TransferGo, Fast Growing Money Transfer Company, Launches Equity Crowdfunding Campaign

October 29, 2018         By: Payment Week

29 October, 2018, London – One of the world’s fastest growing money transfer companies, TransferGo, is announcing today the launch of an equity crowdfunding campaign on leading European platform, Seedrs. The campaign has €10.5 million of previously committed capital and a minimum target of €1 million to be raised through the platform.

TransferGo is the fastest, most reliable, remittance company in Europe and with a Trustpilot score of 9.6 and an NPS score of 75 has built a much loved brand based on transparency, trust and user experience. They have a rapidly growing customer base of 750,000 users and are onboarding 1,000 users a day, with operations in 48 countries around the world.

The crowdfunding campaign was launched in response to increasing demand from their users. “Our customers are at the centre of everything we do and as we continue to expand and innovate, we want them to be part of our journey. We are launching this crowdfunding campaign so they can invest alongside our prominent european VC investors and share in our success,” said CEO and cofounder Daumantas Dvilinskas.

“We’ve been on an incredible journey since we launched in 2012, growing at 100% year on year to become one of the fastest growing consumer fintech companies and enabling cross-network money transfers in 30 minutes regardless where the sender or recipient is banked.”

With €10.5 million committed from investors and over 5,000 people pre-registered to invest, TransferGo is expecting to raise a total of €11.5 million through the campaign to fuel further international expansion and product innovation. “There is huge opportunity in the remittance market, only 6% of global remittances are digital and this space is expected to grow from $1.5 billion in 2017 to $8.5 billion by 2025. Our team is focused on increasing the digital share by building solutions that work for consumers from a brand they trust,” commented Daumantas.

The company has already started to expand their portfolio including a cryptocurrency trading facility, a Ripple-enabled real-time service in India, and recently TransferGo FREE, the first completely free international money transfer service that allows customers to transfer money around the world at absolutely no cost.

TransferGo saw Seedrs as the ideal partner for this initiative because of their great technology, team and track record with impressive past experiences with large campaigns.

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About TransferGo

Founded in 2012, TransferGo is the fastest, most reliable, remittance company in Europe and is the only Pan-European money transfer company that can guarantee your money will reach its destination in 30 minutes. We put the customer first and deliver transparency, and by prioritising customer experience, we’ve built a brand that thousands of clients trust and a product they love (rated Excellent on Trustpilot, with 96% 5* reviews NPS of 75) our vision is to make international financial services pain-free and without artificial borders.

Founder and CEO Daumantas Dvilinskas was included in the 2017 Forbes 30 under 30 and the company was recently nominated for “Fastest Rising Startup of the Year” at TechCrunch Europa Awards 2018.

About Seedrs

Seedrs allows all types of investors to invest as little or as much as they like in businesses they believe in and share in their success. It allows ambitious businesses in all sectors to raise capital and build community through an efficient, online process.

Seedrs has funded 695 deals to date and has had over £450 million invested into campaigns on the platform. All investments made through Seedrs offer voting shares to investors and use professional-grade subscription agreements. This ensures that investors get the same level of protection that angel investors and venture capitalists enjoy.

Seedrs is backed by star fund manager Neil Woodford, Faber Ventures, Augmentum Fintech PLC (listed on the London Stock Exchange Main Market and Europe’s largest listed fintech fund) and over 2,000 of its own customers. Seedrs is authorised and regulated by the UK Financial Conduct Authority.