TransferGo raises USD 50 million in Series C funding

Focusing on improving international money transfers, TransferGo, has announced that it has secured USD 50 million in a Series C funding round. This latest fundraise, led by Elbrus Capital Fund III and Black River Ventures, follows consistent 80% year-on-year growth for the fintech company since its launch, and brings the total raised to-date for TransferGo to USD 77 million.

The fintech has processed 13.5 million international and local transactions, amounting to over USD 6 billion in money flow. The current funding will be used to help expand the startup’s customer base, helping more migrants send and receive money across Europe, and develop its product offering in support of its goal to grow 5x in the next three-four years.