TransferGo, a London, UK-based international money transfer company, raised $17.6m in Series B funding.
The round was led by Vostok Emerging Finance and Hard Yaka, with participation from Revo Capital, U-Start Club and Practica Capital.
The company intends to use the funds to expand its business reach.
Founded in 2012 by CEO Daumantas Dvilinskas, TransferGo is a money transfer company currently serving over 830k users in 47 countries. The service enables migrants and businesses to send money abroad in a cheaper way than banks and cash bureaus, with same business day delivery and a guaranteed destination amount without any extra charge. The company is regulated by the UK Financial Conduct Authority (FCA) as an authorized payment institution.
TransferGo has offices in London, Vilnius, Berlin, Warsaw and Istanbul.