Last month TransferGo launched its crowdfunding campaign to give its customers an opportunity to be a part of the fintecher’s journey:
“We received a lot of organic demand for [crowdfunding] and this is the perfect timing,” TransferGo Founder and CEO Daumantas Dvilinskas shared with Crowdfund Insider at the time. “The funds we raise will be used to fuel our international expansion and continued product innovation, our team is always dedicated to solving our customers biggest pain points.”
Now, a few weeks later, with over €11,129,710 raised for 16.42% equity from more than 980 investors… Pre-valued at €58,742,945, TransferGo’s Seedrs’ target of €11,542,478 is about to come to fruition.
Six year old TransferGo also said that it would now focus on scaling the international money transfer offering globally by focusing on the emerging markets and introducing new products for existing and new customer segments, adding Eastern Europe and Baltic state markets to its existing UK, German and Scandinavian markets.
“TransferGo saw Seedrs as the right partner for its crowdfunding campaign because of their great tech, team and track record, with impressive past experiences on some large campaigns,” explained Daumantas at the campaign’s launch. “The global digital remittance market is just 6% of the total market, with an incredibly large percentage that is still cash based. This creates a huge opportunity for disruption as TransferGo aims to grow the digital share by providing an excellent product with a brand that customers love and trust.”
TransferGo offers a cryptocurrency trading facility with customers now able to purchase and sell five cryptocurrencies, which are Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin. The platform counts more than 700,000 customers registered on its platform, reportedly adding an average of 1,000 new customers every day since May.
For more details regarding TransferGo’s campaign on Seedrs, click here. In other news, Seedrs is currently hosting 39 live campaigns, including fintecher Wealth Migrate, social marketplace HelpfulPeeps, Sono Motors and Abundance Investment.
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