TransferMate secures $70m at a $1bn valuation from Railpen to scale international operations and technology.
The funding round was backed by Railpen and managed by Barclays Bank PLC.
≈ £55.8M at $1 = £0.7973 on 24 May 2022
TransferMate provides business-to-business payments infrastructure, enabling companies to execute cross-border transactions through a global licensing and banking network.
Dublin-based payments infrastructure provider TransferMate has secured $70m in a funding round that values the company at $1bn. The investment, which consists entirely of primary capital, saw participation from Railpen and was managed by Barclays Bank PLC.
The newly acquired funds will be deployed to expand international teams and further develop the company technology suite. Founded in 2010, TransferMate operates a cloud-based platform designed to simplify and automate cross-border payments for businesses worldwide.
Investor perspective
"This investment continues Railpen’s strategy of investing in high quality, innovative growth companies for the long term, which supports our purpose to secure our members’ future."
Julia Diez
Portfolio Manager, Railpen
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Grow the team
Investors
Categories
About the company
TransferMate
TransferMate provides global business-to-business payments infrastructure and cross-border transaction services.