TransferGo raises $10m in funding from Taiwania Capital Management

By Gloria Mathias

TransferGo has announced the investment news of securing a $10 million investment from Taiwania Capital Management.

This investment aims to accelerate its 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, CEO and co-founder Daumantas Dvilinskas said, “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.”

Innovative product offerings and a customer-first approach drive the firm’s growth trajectory. Nearly 90% of its transactions are delivered instantly, 24/7, and at an 80% market-leading gross margin. This enables it to provide market-leading offerings that ensure accessibility and reliability for its users. It has also built a reputation for delighting customers, as reflected in the TrustPilot score of 4.7/5.

Mitch Yang, Managing Partner at Taiwania Capital said, “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.”