TransferGo launches Seedrs aiming at €11.5m investment
Money transfer firm TransferGo has launched an equity crowdfunding campaign on leading Seedrs, aiming to raise a minimum of €1 million on top of the €10.5 million already committed.
TransferGo says it is building its reputation based on transparency, trust and user experience. At the moment, it has a customer base of 750,000 users claims to be onboarding 1,000 users a day.
The firm says there was a user demand of a crowdfunding campaign for some time.
“We are launching this crowdfunding campaign so they can invest alongside our prominent European VC investors and share in our success,” says CEO and cofounder Daumantas Dvilinskas.
Investors committed to a €10.5 million, and with over 5,000 people preregistered on Seedrs, TransferGo is expecting to raise a total of €11.5 million, which will be dedicated to international expansion and product innovation.
“There is huge opportunity in the remittance market, only 6% of global remittances are digital and this space is expected to grow from $1.5 billion in 2017 to $8.5 billion by 2025. Our team is focused on increasing the digital share by building solutions that work for consumers from a brand they trust,” comments Daumantas.
The company has already started to expand their portfolio including a cryptocurrency trading facility, a Ripple-enabled real-time service in India, and recently TransferGo FREE, a free international money transfer service worldwide.
TransferGo, launched in 2012, has grown 100% year on year. It guarantees cross-network money transfers in 30 minutes regardless where the sender or recipient is banked.