Less than six months after securing $17.5 million through its Series B funding round, UK money transfer fintech TransferGo announced it received $3.4 million from French capital firm Seventure Partners to add to the funding round.
As previously reported, TransferGo currently offers transfers between nearly 50 countries and recently claimed to be the first remittance company to offer a cryptocurrency trading facility with customers now able to purchase and sell five cryptocurrencies, which are Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin. TransferGo reports more than 700,000 customers registered on its platform, adding an average of 1,000 new customers every day. The company is raising the funds at a pre-money valuation of €58,742,945.
Speaking about the investment, Chief executive and Co-Founder of Transfergo, Daumantas Dvilinskas, reportedly stated:
“We’re delighted that 1m 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.”
“We’ve had an exceptional year so far that’s seen us hit $1bn in money flow as well as reach 1m customers – and we’re far from done. 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.”
TransferGo recently closed a crowdfunding campaign on the Seedrs platform after raising €11.1 million backed by over 1000 investors. The company crowdfunded at a pre-money valuation of €58,742,945.