LHV onboards one of the world’s fastest growing international money transfer companies: TransferGo
- 22.04.2020 09:25 am
LHV, the financial and payment services provider, is pleased to welcome London-based money transfer company TransferGo as its latest client. LHV will provide TransferGo, which is one of the world’s fastest growing money transfer companies, with payment infrastructure, providing access to real time Euro and Sterling payments via Single Euro Payment Area (‘SEPA’) Instant and Faster Payments schemes respectively.
Founded in 2012, London-based TranfereGo is the only Pan-European money transfer company that can guarantee customers’ funds will reach their destination in 30 minutes, and is favoured by migrants who send money home to their families but don’t want to deal with the bureaucracy and fees imposed by banks for processing payments in other countries and currencies.
On top of the real time Euro and Pound payments, LHV’s offering also boasts, through its Application Programming Interface ‘LHV Connect’, a wide range of services, including safeguarding accounts, Virtual IBANs, currency exchange, liquidity services and where appropriate financing. The ongoing COVID-19 pandemic has highlighted LHV’s value proposition as a ‘one stop shop’ for all financial needs.
Thanks to its broad offering and unique approach of viewing fintechs as partners with whom it often works with to come up with custom made solutions that satisfy their needs, LHV now serves well over 100 clients. This represents a trebling of LHV’s client base, which ranges from startups to unicorns with global reach, in less than two years. Most clients fall under the following categories: money remittance, neobanks, FX broker/remittance, PSPs and cryptocurrency players. In addition, LHV has an increasing number of prospective customers in the pipeline, all waiting to undergo its thorough vetting process.
Andres Kitter, Head of LHV’s UK Operations, said, “Adding an established and rapidly growing fintech business such as TransferGo to our client list is testament to the full service payment offering LHV provides. The relationship with TransferGo has the potential to be a symbiotic one for both parties - translating into increased transaction volumes for LHV, while TransferGo gains a considerable advantage over its competitors by securing access to both instant Euro and Pound payments.”
TransferGo CEO and co-founder, Daumantas Dvilinskas, said, “As an established player in the payment infrastructure industry, LHV is a one-stop-shop, being able to provide Euro and Pound payments, thereby satisfying the majority of our European currency transfer needs. This partnership is another step in realising our vision to make international financial services pain-free and without artificial borders.”