London-based fintech startup TransferGo has received £4 million in financing from Silicon Valley Bank UK Branch (SVB) to expand its real-time payments platform for consumers, SMEs and enterprise clients.
The company started in 2012 as a money transfer service and has since shifted its focus to payments, specifically cross-border payments and remittances. The platform now has over 2.5 million customers.
This past June, TransferGO announced a $10 million funding round and its launch in 11 new markets, including Japan, New Zealand, Saudi Arabia, Singapore and Ghana. The UK company also recently partnered with VISA enabling global pay-out to cards.
Photo: CEO and co-founder Daumantas Dvilinskas