TranferGo, founded by Lithuanian entrepreneurs, raises €9.2M

Fintech TranferGo, based in London and founded by Lithuanian entrepreneurs, has raised €9,2M from Taiwania Capital. According to the company, TranferGo's post-money valuation is €551,2M.

Founded in 2012 by Daumantas Dvilinskas, Justinas Lasevicius, Edvinas Sersniovas, and Arnas Lukosius, TransferGo is a consumer platform for global money transfers. It can handle both personal and business transfers on a digital account-to-account model. The money transfer service works with 22 currencies in 47 countries. TransferGo has offices in London, Vilnius, Berlin, Istanbul, and Warsaw. The company will use the investment to expand into the Asian Pacific region.

In 2023, TransferGo was fined €310K by the Bank of Lithuania for violating the law on the prevention of money laundering and terrorist financing. At the time, TransferGo said that the Bank of Lithuania had found no evidence of money laundering or other financial misconduct. However, it had to address some deficiencies related to improving its preventive procedures, such as reporting suspicious transactions, appointing a board member responsible for implementing AML/CFT measures, etc.