TransferFast, which offers instant money transfers between different banks, has raised further 150,000 euros in pre-seed investment.

TransferFast, which offers instant money transfers between different banks, has raised further 150,000 euros in pre-seed investment.

Their offer to consumers is simple – today it takes many hours or even days to transfer money from an account in one bank to another bank, TransferFast promises to do it minutes. So in those rare occasions when its crucial for you to move the money really fast you might be willing to pay an extra fee for that to the startup.

TransferFast uses logic similar to TransferWise – the money transferred never moves between the banks. Clients move money to the TransferFast account in the same banking group they are and TransferFast pays money out in another after the first transfer is made.

The company said that since its October launch it has been able to validate the need for the service in Estonia and it seeks to expand abroad this year. The investment raises the amount of pre-seed money put into the company to 250,000 euros.

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