TransferGo, one of the world’s fastest growing money transfer companies, today announced that its global customer base has surpassed one million and continues to grow by more than 2,000 new users each day. This landmark follows a $3.4 million investment from Seventure Partners, one of the European leaders in venture capital.
Based in London, UK, TransferGo is the quickest, most reliable remittance company in Europe and with a Trustpilot score of 9.6 and an NPS score of 75, it has built a much-loved brand based on transparency, trust and user experience. Last year the company announced a fee-free offer – the first completely free international money transfer service.
Since launching in 2012 it has seen 100 per cent year on year growth and is now accessible in 47 countries. In December 2018 the company closed a Series B funding round for $17.5 million.
“TransferGo represents a new breed of FinTech companies that is really shaking up the remittance market. Its impressive growth and progress that really caught our attention, along with its customer-centric approach and commitment to continued innovation, make it the perfect fit for our investment strategy in the FinTech field,” said Ludovic Denis, Venture partner in the Digital technologies team at Seventure Partners. “We’re looking forward to working with the team and supporting their exciting development going forward.”
Commenting on the company’s landmark achievement, CEO and cofounder Daumantas Dvilinskas said: “We’re delighted that one million people around the world are now using TransferGo to send money to friends and family internationally. Our customers are at the heart of everything we do so reaching this milestone is huge testament to the work we’ve put into creating new solutions that work for our users, as well as a service that exceeds customer experience expectations.”
Dvilinskas continued, “We’ve had an exceptional year so far that’s seen us hit $1bn in money flow as well as reach one million customers - and we’re far from done. Currently only twelve per cent of global remittances are digital and this space is expected to grow 11% CAGR over the next 5 years, which could be north of $400bn by 2023. We’re really committed to making the most of this opportunity and ensuring digital remittances are accessible to as many people as possible – and we’re delighted that Seventure Partners supports this vision.”