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Lithuania’s TransferGo receives $10 million investment to power Asia-Pacific expansion

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Established in Vilnius, TransferGo has secured a $10 million investment from Taiwania Capital Management. TransferGo is a financial services company that specializes in international money transfers, offering accessible and reliable services with a focus on customer satisfaction. This funding will accelerate their growth in the Asia-Pacific region and support the expansion of their new product offerings, following a 50% year-over-year growth and achieving profitability last year. They plan to invest in broadening their product development and bringing more value to their customers worldwide.

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.”

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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