The secondary transaction is led by Nordic Secondary Fund , a specialist fund focused on start-ups with a proven and scalable business model. N2F is also accompanied by Siena Secondary Fund, and together they will support TransferGo to scale its workforce, open new offices, launch new send and receive markets, and build new pay-out options.

TransferGo connects more than 3.5 million customers across 160 markets, and has achieved 80% year-on-year growth since its launch. The money transfer company is an appealing investment proposition having built a loyal customer base in the migrant community, hit a number of new business milestones, including processing 13.5 million international and local transactions, despite market turbulence caused by the pandemic, according to the press release.

Company officials stated that with this transaction, they’re keen on making significant returns for these stakeholders, while strengthening their position as they look to continue the path of rapid expansion and payment innovation.