TransferGo will use the money to accelerate its international expansion, allowing the company to support more countries and currencies.
The company, a digital remittance solution for migrant workers, currently serves 45 countries in Europe with close to real-time delivery.
CEO and co-founder Daumantas Dvilinskas said: “We are excited to invite VEF to join our business as an investor.
“VEF’s fintech focus and long-term approach in building great lasting financial institutions is an exact match with the business philosophy here at TransferGo.
“Therefore, we believe that this collaboration is an important step for TransferGo en route to becoming a global fintech brand.”
When it closed its last round of US$2.5m – TransferGo was able to launch its much-awaited iOS app in just under five months.
The firm is now looking to release the Android version of the app to support its customer base of over 160,000 customers.
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