# TransferGo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/transfergo

- Industry: Software
- Headquarters: London, UK
- Website: www.transfergo.com/
- Total disclosed funding: $69M
- Latest round: Series C (Sep 30, 2021)
- Investors on record: 11

## About

TransferGo Ltd, based in the UK, delivers efficient digital money transfer services and multi-currency accounts, empowering individuals and businesses to navigate international financial transactions with ease.Founded in 2012, TransferGo Ltd specializes in digital money transfers and operates from London, UK. The firm has completed 15 deals and recently raised USD 10 mn in a GROWTH funding round on April 9, 2024, from Taiwania Capital, bringing its total raised to USD 10 mn. The founders, Edvinas Sersniovas and Justinas Lasevicius, have laid a strong foundation for the company’s evolution and growth.TransferGo’s primary offerings include a digital money transfer service and a multi-currency business account, designed to facilitate fast and cost-effective international transactions. The core product, the TransferGo app, allows users to send, receive, and exchange money across more than 160 countries with minimal fees and no hidden costs. The app supports various currencies, enabling customers to manage multiple currency balances seamlessly and track their transactions in real-time. TransferGo also provides physical and virtual debit cards that allow secure, contactless spending, and cash withdrawals globally. The customer base consists of over 9 million users, including individuals and businesses, primarily targeting migrants who require efficient financial services. The company operates in various geographical markets, including but not limited to the United Kingdom, Germany, Poland, Turkey, and several countries across Europe, Asia, and North America.In 2022, TransferGo recorded a revenue of USD 31.06 mn, alongside an EBITDA of USD -2.12 mn. The company generates revenue through a transaction-based model, charging nominal fees for international money transfers, supplemented by a subscription plan for businesses and service fees for currency exchanges. Individual users can access a free Essential plan, with an option for an Extra plan at GBP 4.99 monthly, which offers additional features such as priority support and free ATM withdrawals.In April 2024, TransferGo Ltd raised USD 10 mn in growth funding from Taiwania Capital. This funding will be utilized to expand the company's footprint in the Asia-Pacific region, targeting new market opportunities to enhance its service offerings and customer reach.

## Funding rounds

- Series C, Sep 30, 2021, $50M — Elbrus Capital, Black River Ventures, Vostok Emerging Finance, SmartHub Investments, Hard Yaka, Milano Investment Partners, Unlimint EU Ltd
- Series B, May 7, 2019, $3.4M — Seventure Partners
- Series B, Dec 14, 2018 — Practica Capital, U-Start Ventures, Revo Capital, Vostok Emerging Finance, Hard Yaka
- Series B, May 17, 2018, $10M — Practica Capital, Revo Capital, Vostok Emerging Finance
- Series B, Aug 11, 2017, $2.9M — Practica Capital, Vostok Emerging Finance
- Seed, Dec 14, 2015, $2.5M — Practica Capital
- Seed, Nov 1, 2014 — SmartHub Investments
- Seed, Oct 23, 2013, $0.3M — Practica Capital
- Seed, Dec 1, 2012, $0.2M — Practica Capital

## Investors

- Practica Capital (https://capitalatlas.ai/funds/practica-capital) — Seed, Series B
- SmartHub Investments — Seed, Series C
- Vostok Emerging Finance — Series B, Series C
- Revo Capital (https://capitalatlas.ai/funds/revo-capital) — Series B
- U-Start Ventures (https://capitalatlas.ai/funds/u-start-ventures) — Series B
- Hard Yaka (https://capitalatlas.ai/funds/hard-yaka) — Series B, Series C
- Seventure Partners (https://capitalatlas.ai/funds/seventure-partners) — Series B
- Elbrus Capital — Series C
- Black River Ventures (https://capitalatlas.ai/funds/black-river-ventures) — Series C
- Milano Investment Partners (https://capitalatlas.ai/funds/milano-investment-partners) — Series C
- Unlimint EU Ltd — Series C