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The TransferGo money transfer platform, which is actively used by migrants working abroad, sending money to relatives at home, so that the experience of a new investor in the financial sector helps to accelerate the digital transformation of the services of payment.
The funds received will strengthen the real-time transfer service, as well as local contributions and payments (also known as local in local-out) model.
SVB has 35 years of experience in financing and supporting the development of the world’s most innovative companies.
Company Photo / TransferGo Vilnius Office
“Today we start a promising cooperation with SVB. We are convinced that the bank will be an excellent partner to develop activities during the pandemic and enter a new phase of our growth. We look forward to using the bank’s many years of experience in work and growth of innovative companies ”, Daumantas Dvilinskas, CEO and founder of TransferGo, is quoted in the press release.
Despite the uncertainty in global markets, TransferGo’s operations continue to grow rapidly, with the volume of international orders executed through the company’s channels growing 117% in the last financial year.
The company notes that the digitization of financial services as a result of the pandemic is particularly felt in countries where cash transfers were prevalent before spring, such as Turkey and Germany.
The TransferGo platform is currently used by 2.5 million users. June the company has already attracted 10 million. investment in its international expansion and development of new transfer platform services. The company also recently announced a benefits partnership with VISA.
2012 Founded in 2007, TransferGo is the only remittance platform in Europe that can guarantee that money reaches the recipient in 30 minutes.
Founder and CEO Daumantas Dvilinskas was included in the 2017 Forbes List of Entrepreneurs Under 30 Years Old. The TechCrunch Europa Awards 2018 company was nominated as the fastest growing start-up company of the year and was included in the five ‘most popular’ of 2019. UK starter list.
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