London-based international money transfer platform TransferGo bags £4M: Here’s what they’re going to do

Founded in 2012, TransferGo established itself as one of the trusted money transfer companies specializing in delivering, fast, dependable remittances.

Recently, the London-based fintech company secured £four million in financing from Silicon Valley Bank UK Branch (SVB), the financial institution of the world’s most progressive firms.

How will the funding be used?

The UK firm is planning to use the funding to additional develop and increase its real-time funds platform for customers, SMEs, and enterprise purchasers.

“We are very excited to deepen our partnership with TransferGo as we glance ahead to being part of their development story because it expands its cycle of innovation to entice extra prospects to a sooner, cheaper and extra accessible method to ship money all over the world,” stated Craig Fox, Director at Silicon Valley Bank.

SVB be part of forces with TransferGo

According to the corporate, SVB’s monetary experience and steerage will allow TransferGo to pursue an accelerated programme of digital funds transformation. Today’s partnership alerts a dedication by TransferGo and SVB to service tens of millions of migrants that need to ship money dwelling – shortly, securely, and affordably.

Despite the market volatility all year long, TransferGo witnessed development of over 117% for the final fiscal yr.

“Today marks the start of a affluent relationship with Silicon Valley Bank,” commented Daumantas Dvilinskas, CEO and Co-Founder of TransferGo. “With its heritage in championing start-ups and offering assist and mentoring to innovators, it’s the good accomplice to accompany us throughout the pandemic and as we enter our subsequent stage of enterprise development.”

Serves 22 currencies throughout 47 nations

With 2.5 million customers and an additional $10M investment in June, it’s dedicated to increasing its international footprint and launching new companies on its cross-border funds platform. It serves each private and business financial institution transfers on a digital account-to-account mannequin

Founded by Arnas Lukosevicius, Daumantas Dvilinskas, Edvinas Sersniovas, and Justinas Lasevicius in 2012, it at present serves 22 currencies throughout 47 nations. It has workplaces in London, Berlin, Istanbul, Warsaw, and Vilnius.

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