Transfergo

Transfergo is an international online money transfer service that provides direct currency conversion at a fixed rate. Founded in 2012, Transfergo is headquartered in Vilnius, Lithuania, with additional offices in London, Kaunas, Warsaw, and Kraków.

History
In 2012, TransferGo was founded by Daumantas Dvilinskas, Justinas Lasevicius, Arnas Lukošius, and Edvinas Sersniovas to allow migrants to send money to their families.

In 2013, the company expanded its operations by opening an office in London with 4 employees and another in Vilnius with 5 employees.

In 2015, TransferGo launched in Australia, Canada, South Africa, and the USA. That same year, the company secured $2.5 million from private investors.

In 2016, it introduced the 'NOW' option facilitating pan-European transfers, where the money arrives in the receiver's account within 30 minutes. That year, it also received $3.4 million from Vostok Emerging Finance, which continued with an additional $2.9 million in 2017.

In November 2016, Transfergo was recognised in the New Europe Top 100 list by the Financial Times.

In 2017, Transfergo reached one million transactions and opened an office in Berlin. The company also was honored at the Global Lithuanian Awards 2017. In the same year, Daumantas Dvilinskas, co-founder of TransferGo, was listed in Forbes 30 Under 30 Europe in the Finance category.

In 2018, the company opened offices in Warsaw, Poland, and Istanbul, Turkey. TransferGo was also nominated for the 'Fastest Rising Startup of the Year'. By this year, the service employed over 100 people. The company raised $17.5 million in a funding round and an additional $10 million from a consortium of investors, including Revo Capital, Practica Capital, Vostok Emerging Finance, U-Start Club, and others.

The company won an award at the Payspace Magazine Awards 2018 in Ukraine for its international money transfer services.

In 2020, it reached two million users and expanded the number of recipient countries from 67 to 164. TransferGo received $10 million from a group of investors, including Seventure Partners, Vostok Emerging Finance, Hard Yaka, Revo Capital, and Bootstrap Europe.

In 2021, Transfergo received $50 million investment from Elbrus Capital Fund III, Black River Ventures, and Unlimint.

In 2022, the company launched a Diversity, Equity, and Inclusion program and reached its four millionth customer.

In 2023, TransferGo won the Fintech Impact of the Year award at the Lithuanian Fintech Awards and started operations in Nigeria, Morocco, Ghana, the Philippines, Kazakhstan, and other Central Asian countries. In August, Transfergo launched BLIK as an additional payment method for their customers in Poland.

In December, the platform was named one of the best cross-border payment services at the Payspace Magazine Awards in Ukraine. In April 2024, the company raised $10 million from Taiwania Capital.

Overview
TransferGo is a global money transfer platform for rapid, low-cost cross-border transactions using local payments rather than traditional methods. The platform supports multiple payout options like bank, card, and wallet transfers but does not offer cash payouts through physical stores, partnering locally in some markets for cash distribution.

TransferGo serves over 7 million customers across more than 160 countries, including Eastern and Western Europe, Africa, and the Far East.

TransferGo is a member of the global entrepreneur network, Endeavor, and the FintechHUB association.