Vostok leads $17.6m series-B for TransferGo

Vostok invested via its Vostok Emerging Finance division, while Revo Capital, Practica Capital and multi-family office U-Start Club also took part in the round.

According to a statement, TransferGo is attracting new customers at a rate of 1,000 per day and it currently has around 830,000 users.

Previous funding
Practica Capital provided TransferGo with €150,000 and €200,000 of early-stage funding in 2012 and 2013 respectively. Practica then led a $2.5m seed funding round for the company in 2015, alongside private investors.

Vostok provided $3.4m of series-A funding for TransferGo in 2016.

Company
Founded in 2012, London-headquartered TransferGo is an international money transfer platform. Its product offers two tiers: one that offers the transfer of large amounts of money within half an hour with no transaction fee or mark-up on the exchange rate, and a premium tier that ensures a guaranteed arrival time.

The company's platform is operational in 47 countries and it has additional offices in Vilnius, Berlin, Warsaw and Istanbul.

People
TransferGo - Daumantas Dvilinskas (co-founder, CEO).

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