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Transfergo is an online money transfer service. Founded in 2012, TransferGo is headquartered in Vilnius, Lithuania, with additional offices in London, Kaunas, Warsaw, and Kraków.
Company type | Private |
---|---|
Industry | Fintech |
Founded | 2012 ![]() |
Founder | Daumantas Dvilinskas, Justinas Lasevicius, Arnas Lukošius, and Edvinas Sersniovas |
Headquarters | Vilnius, Lithunia |
Area served | London, Vilnius, Kaunas, Warsaw, and Kraków |
Revenue | 25,583,454 Euro (2021) ![]() |
Number of employees | 350 |
Website | https://www.transfergo.com/ |
History
editIn 2012, Transfergo was founded by Daumantas Dvilinskas, Justinas Lasevicius, Arnas Lukošius, and Edvinas Sersniovas to allow migrants to send money to their families.[1][2]
In 2013, the company opened an office in London and another in Vilnius.[3]
In 2015, TransferGo launched in Australia, Canada, South Africa, and the USA.[4] That same year, the company secured $2.5 million from private investors.[5]
In 2016, it introduced the 'NOW' option facilitating pan-European transfers, where the money arrives in the receiver's account within 30 minutes.[6] That year, it also received $3.4 million from Vostok Emerging Finance, which continued with an additional $2.9 million in 2017.[7][8][9]
In November 2016, Transfergo was recognised in the New Europe Top 100 list by the Financial Times.[10]
In 2017, Transfergo reached one million transactions and opened an office in Berlin. The company also was honored at the Global Lithuanian Awards 2017.[11] In the same year, Daumantas Dvilinskas, co-founder of TransferGo, was listed in Forbes 30 Under 30 Europe in the Finance category.[12]
In 2018, the company opened offices in Warsaw, Poland, and Istanbul, Turkey.[13][14] TransferGo was also nominated for the 'Fastest Rising Startup of the Year'.[15][16] By this year, the service employed over 100 people. The company raised $17.5 million in a funding round and an additional $10 million from a consortium of investors, including Revo Capital, Practica Capital, Vostok Emerging Finance, U-Start Club, and others.[17][18]
The company won an award at the Payspace Magazine Awards 2018 in Ukraine for its international money transfer services.[19][20]
In 2020, it reached two million users and expanded the number of recipient countries from 67 to 164.[21][22] TransferGo received $10 million from a group of investors, including Seventure Partners, Vostok Emerging Finance, Hard Yaka, Revo Capital, and Bootstrap Europe.[23][24]
In 2021, Transfergo received $50 million investment from Elbrus Capital Fund III, Black River Ventures, and Unlimint.[25]
In 2022, the company launched a Diversity, Equity, and Inclusion program and reached its four millionth customer.[26][27]
In 2023, TransferGo won the Fintech Impact of the Year award at the Lithuanian Fintech Awards and started operations in Nigeria, Morocco, Ghana, the Philippines, Kazakhstan, and other Central Asian countries.[28] In August, Transfergo launched BLIK as an additional payment method for their customers in Poland.[29]
In December, the platform was named one of the best cross-border payment services at the Payspace Magazine Awards in Ukraine.[30] In April 2024, the company raised $10 million from Taiwania Capital.[31][32] TransferGo is a member of the global entrepreneur network, Endeavor,[33] and the FintechHUB association.[34]
References
edit- ^ "How TransferGo gave European customers best-in-class speed and value". www.ultimate.ai. Retrieved 2024-06-06.
- ^ "TransferGo success story in Lithuania success story in Lithuania". Invest Lithuania. Retrieved 2024-06-06.
- ^ "TRANSFERGO LTD people - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2024-06-06.
- ^ "TransferGo expands to Australian and South Africa". Finextra Research. 2015-09-03. Retrieved 2024-06-06.
- ^ "TransferGo Secures Record $2.5M Investment Round; Largest Seed Raise in Money Transfer Space". Startup Lithuania. Retrieved 2024-06-06.
- ^ "TransferGo offers real-time payments option". Finextra Research. 2016-10-24. Retrieved 2024-06-06.
- ^ Inamedinova, Laura K. (2016-06-30). "TransferGo Raises $3.4 Mln A Round From VEF - ArcticStartup". arcticstartup.com. Retrieved 2024-06-06.
- ^ "Vostok invests €3 million into TransferGo Holdings Limited". www.penningtonslaw.com. Retrieved 2024-06-06.
- ^ "TransferGo closes $3.4m Series A funding round". UKTN. 2016-06-27. Retrieved 2024-06-06.
- ^ Foy, Henry (2016-11-15). "New Europe 100 — changemakers in central and eastern Europe". Financial Times. Retrieved 2024-06-06.
- ^ "Laureates 2017". Global Lithuanian Awards. Retrieved 2024-06-06.
- ^ "Daumantas Dvilinskas". Forbes. Retrieved 2024-06-06.
- ^ "Mobile engineer jobs". Jobs in Forex. Retrieved 2024-06-06.
- ^ O'Hear, Steve (2018-12-14). "International money transfer company TransferGo scores $17.6M Series B". TechCrunch. Retrieved 2024-06-06.
- ^ Veriff. "TransferGo partners up with Veriff". Veriff. Retrieved 2024-06-06.
- ^ "TransferGo and Mastercard empower more European customers to make fast, simple and secure cross-border payments". www.mastercard.com. Retrieved 2024-06-06.
- ^ EN.DELFI (2018-12-21). "TransferGo Raises $17.5 million in Series B Funding". the Lithuania Tribune. Retrieved 2024-06-06.
- ^ "TransferGo completes $17.5 million funding round". Finextra Research. 2018-12-14. Retrieved 2024-06-06.
- ^ "PaySpace Magazine Awards 2018 - премия рынка ФинТех в 2018 году". Awards-2018. Retrieved 2024-06-06.
- ^ Williams, Jason (2019-05-12). "TransferGo Reaches 1,000,000 Customer Milestone". The Fintech Times. Retrieved 2024-06-06.
- ^ "TransferGo Review". Business Expert. Retrieved 2024-06-06.
- ^ "TransferGo reaches two million customers worldwide and launches in 11 new markets". en.15min.lt. Retrieved 2024-06-06.
- ^ Butcher, Mike (2024-04-09). "TransferGo raises $10M to expand its remittance business in Asia, doubling valuation". TechCrunch. Retrieved 2024-06-06.
- ^ "TransferGo reaches two million customers worldwide and launches in 11 new markets". en.15min.lt. Retrieved 2024-06-06.
- ^ "Orrick Advises TransferGo on $50 Million Series C Round". www.orrick.com. Retrieved 2024-06-06.
- ^ Symcox, Jonathan (2022-05-11). "New CTO as TransferGo 'doubles down' on financial inclusion mission". BusinessCloud. Retrieved 2024-06-06.
- ^ "TransferGo Mission, Values, Culture & Jobs". www.tealhq.com. Retrieved 2024-06-06.
- ^ "Leading the charge: Meet the seven Lithuanian FinTech Award winners of 2023 | Silicon Canals". 2023-03-03. Retrieved 2024-06-06.
- ^ "BLIK jako nowa metoda płatności w TransferGo". fintek.pl (in Polish). Retrieved 2024-06-06.
- ^ Деркач, Николай (2023-12-22). "Оголошено переможців фінтех-Премії PaySpace Magazine Awards 2023". PaySpace Magazine (in Ukrainian). Retrieved 2024-06-06.
- ^ dwillis (2024-04-11). "Taiwania Capital invests $10m in TransferGo to fuel Asia-Pacific growth". FinTech Global. Retrieved 2024-06-06.
- ^ Smith, Éire (2024-04-09). "TransferGo raises USD 10 mln from Taiwania Capital". VEF. Retrieved 2024-06-06.
- ^ "TransferGo Founders Become the First Lithuanians to be Invited to the Global Entrepreneur Network, Endeavor". Financial IT. Retrieved 2024-06-06.
- ^ Dževeckytė, Rasa. "A. Grigaitytė perrinkta "Fintech Hub LT" valdybos pirmininke". vz.lt (in Lithuanian). Retrieved 2024-06-06.