TransferGo secures £4m from Silicon Valley Bank to fund real-time payments development
Silicon Valley Bank provided the debt financing to support the company in expanding its real-time payments platform.
TransferGo operates a digital money transfer platform that provides fast cross-border remittance services for consumers and businesses. The company enables international payments across multiple corridors with a focus on speed and financial inclusion.
TransferGo has secured £4m in debt financing from Silicon Valley Bank to advance its real-time payments infrastructure. The capital will support the company as it develops its local-in, local-out model and expands its financial services for migrants and enterprises.
Despite recent market volatility, the company has experienced significant growth in cross-border payments over the past fiscal year. The new partnership aims to build on this momentum, providing additional backing for the firm's digital payments transformation.
The investment follows a separate $10m funding round earlier in the year and coincides with ongoing efforts to broaden the company's global footprint and enhance its card pay-out capabilities.
From the founder
"Today marks the beginning of a prosperous relationship with Silicon Valley Bank,"
Daumantas Dvilinskas
CEO and Co-Founder at TransferGo
Investor perspective
"We are very excited to deepen our partnership with TransferGo as we look forward to being a part of their growth story as it expands its cycle of innovation to attract more customers to a faster, cheaper and more accessible way to send money around the world,"
Craig Fox
Director, Silicon Valley Bank
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
TransferGo
TransferGo operates a digital money transfer platform providing international remittance services.