From XU Magazine, 
Online News

TransferGo Investment News: $10 million in strategic funding from Taiwania Capital Management

April 15, 2024

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
You can find the original post here:

We’re thrilled to announce some exciting TransferGo investment news… we’ve secured a 10 million USD investment from Taiwania Capital Management!

This investment aims to accelerate our growth in the Asia-Pacific region and support the expansion of our new product offerings.

It comes on the back of delivering 50% year-over-year growth and achieving profitability last year. Since our last TransferGo investment round in September 2021, our company has also doubled in valuation. In contrast to recent market trends last year, we’ve also expanded our team by over 30% and strengthened our leadership with global talent.

Speaking about the TransferGo investment news, our CEO and Co-Founder, Daumantas Dvilinskas says: “Our mission is to create a fairer world for global citizens. The recent investment opens a new chapter for our company, enabling us to accelerate growth in Asia-Pacific by providing people with more opportunities for fairer financial services. Additionally, we’ll continue investing in broadening our product development and bringing more value to our customers worldwide.

“The doubling of our company’s valuation, considering the problematic capital market conditions, validates our robust business model and positions us among the fastest-growing consumer finance service brands worldwide.”

Our growth trajectory is driven by our innovative product offering and customer-first approach. Nearly 90% of our transactions are delivered instantly, 24/7 and at 80% market-leading gross margin. This enables us to provide market-leading offerings that ensure accessibility and reliability for its users. We’ve also built a reputation for delighting our customers, as reflected in our industry-leading TrustPilot score of 4.7/5. Last year, we also surpassed 7 million clients across 160 countries.

Mitch Yang, Managing Partner at Taiwania Capital says: “We’re convinced by TransferGo’s bold mission and clear business strategy. The company demonstrates an exceptional focus on providing added value for its clients and has a proven track record of expertise in creating favourable conditions for financial inclusivity. TransferGo serves as an example of how technology and innovation can serve the well-being of everyday people. This investment demonstrates our strong belief in TransferGo’s mission, and we’ll continue to support and facilitate its growth.”

Watch this space.

Why leave it there?

To find out more about TransferGo

Straight to your inbox

Subscribe to our newsletter for updates as they happen
We hate spam too. We NEVER sell our mailing list.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.