Hub Vilnius alumni – TransferGo just raised $3.4 mln

As reported by the Memo, Lithuanian TransferGo just raised another round of investments from Vostok Emerging Finance of $3.4 mln. It’s nice to remember that the team launched at Hub Vilnius over 3 years ago.

TransferGo, an international money transfer service similar to TransferWise, this morning revealed it has closed a multi-million dollar funding round, in spite of the uncertainty around Brexit.

“We are very proud and happy that despite Brexit and the huge market volatility, we’ve managed to serve our customers without any friction last week,” TransferGo’s CEO and co-founder Daumantas Dvilinskas told The Memo, explaining that other services like TransferWise were forced to suspend their Pound Sterling exchanges last week.

TransferGo’s new investor, Stockholm-based Vostok Emerging Finance, said they had been waiting patiently to make such an investment and hadn’t been put off by the current political and economic climate in Britain.

A brighter future

TransferGo said the $3.4m investment would be used to accelerate their international expansion, letting them support more countries and currencies.

In the last few days fear, uncertainty and doubt have gripped London’s tech sector as the stock markets and political parties reacted to the shock verdict of the people.

But today this investment is the latest sign that business in Britain’s tech sector may be continuing as usual.

Continue to The Memo

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