Vostok Emerging Finance has led a $3.4m Series A financing round in international money transfer service TransferGo
VEF is the sole investor in the round and holds a minority position and board representation in the company following the transaction.
UK-based TransferGo says it is focused primarily on individuals who regularly send money to their home markets.
VEF managing director Dave Nangle said, “Global money transfer and its disruption is one of the clearest fintech themes we have looked to invest in since VEF was founded. We have been waiting patiently for our entry point and are very excited to announce our investment into TransferGo today, one of the industry’s fastest growth players.
“The TransferGo team has an excellent track record of focus and delivery in the valuable and growing European corridors by delivering a better, quicker, cheaper product then key peers.”
Vostok is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets.
Its investments include online retail financial services provider Tinkoff Group Holding, mobile money marketplace Jumo, Brazilian consumer loans business FinanZero, and consumer marketing company Revo and Sorsdata.
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