Startup spotlight: TransferGo, the remittance company for migrants
As we continue our series of flash interviews on startups to watch in 2020, we speak to Daumantas Dvilinskas, CEO & Co-Founder of TransferGo.
What is TransferGo?
TransferGo is a digital remittance company with a vision to make international money transfer pain-free. Our service is favoured by migrants who live and work abroad but send money home to support their families. By using TransferGo, our customers avoid having to deal with the bureaucracy and fees imposed by banks for processing payments in other countries and currencies.
We’re based in London and operate in over 50 countries around the world. We currently have over one million global customers – growing by more than 2,000 new users each day – and pride ourselves on being the most reliable and fastest remittance company in Europe.
We’ve also we’ve built our own proprietary technology and infrastructure that enables 30-minute money transfers – we’re the only Pan-European money transfer company to guarantee this.
What makes TransferGo stand out?
Transparency and trust. TransferGo represents a new breed of fintech companies that are shaking up the remittance market by ensuring that our customers are at the heart of everything we do. We prioritise the user experience and ensure that we are always transparent with our customers. As a result of this, we’ve got a product that consumers love, and have built a brand they trust – we’re rated excellent on Trustpilot with 96% five-star reviews and an NPS of 83.
Further to this, we strive to remain innovative and find new ways to serve our customer base. We recently launched real-time money transfers to India using Ripple’s blockchain technology, allowing users to send money to family and friends or make international payments immediately. This has been extremely popular with our customers and usage grew by 150% YoY from 2018 to 2019.
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What are some of TransferGo's achievements in 2019?
2019 has been a really exciting year for us, with many major achievements. Most recently we reached the five million transactions milestone, and our userbase continues to grow in the thousands each day. We also recorded remittance flows of over a billion pounds and launched in five new markets this year, making TransferGo available in over 50 countries – all of this has contributed to 100% YoY growth for the company.
What can we expect from TransferGo in 2020?
This year we made our service available in over 50 markets. In 2020 we’ll be expanding further and launching in many more countries around the world. We’re expecting TransferGo to be available in over 140 regions in the first few months of the year. We also plan to double the money flow we achieved in 2019, surpassing £2bn.
About Daumantas Dvilinskas
Daumantas Dvilinskas has already founded several companies and is currently heading TransferGo, a high-growth digital money transfer service which was nominated for “Fasted Rising Startup of the Year” at TechCrunch Europa Awards 2018. A well-known advisor in the fintech scene, he was included in the 2017 Forbes 30 under 30 and was also part of the Innovative Finance delegation at the World Economic Forum in Davos in 2016.
[image: Daumantas Dvilinskas]
For more information on all business in Europe, please take a look at the latest edition of Business Chief Europe.