TransferGo was founded in 2013 as a digital remittance service, which guarantees transparent fees, safe destination amounts and extremely fast delivery. The startup founders Justinas Lasevičius, Daumantas Dvilinskas, Arnas Lukoševičius and Edvinas Šeršniovas all come from Lithuania, but the company is headquartered in the UK and belongs to the largest tech accelerator for fintech projects in Europe, known as Level39. Currently, TransferGo serves more than 100 000 customers from more than 40 countries, including such transfer destinations as Australia, Canada, South Africa, the US and a number of European countries. Every month the client base is growing by 20%.
Such a good start was recently fostered further by a record investment ever made in fintech companies. TransferGo received $2.5 million of seed funds from Mark Ransford (previously working at Apax Partners), Voria Fattahi (former investor at Kinnevik), Clive Kahn (ex-CEO of Travelex), Richard Tudor (former partner at Exponent) and Practica Capital venture fund.
According to Daumantas Dvilinskas, TransferGo CEO, this record-size investment in their money transfer service is not just an honorable prize for the company, it is also a valuable acknowledgement of efficient cooperation between remittance services and banks. TransferGo follows a strategy of cooperation with more than 30 world leading banks and uses their local transfer infrastructure, which enables cheap, fast and secure remittances. As a result, TransferGo has become one of the safest digital transfer systems supported by their banking partners.
Eric Van der Kleij from Level39 accelerator also expressed his delight about this major investment, acquired by TransferGo. He mentioned the great involvement of TransferGo in their tech community and active participation in all the events held within Level39. “This can be the start of a new era for financial services”.
This was another success story of a fintech startup company. Obviously, the industry is on the move.
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