The well-known global payment and settlement firm, TransferGo, which is a major partner of Ripple (XRP), today announced that it will be running EUR11.5 million equity crowd funding campaign.
TransferGo, widely referred to s a digital remittance solution for migrant workers, noted that it will run the campaign on Seedrs, an equity crowd funding platform.
The UK remittance firm aims to use the campaign that is having €10.5 million commitment from investors to enhance its international expansion and product development.
Apart from investors, it was stated that more than 5000 people have also pre-registered to invest, thus, it is expecting to raise €11.5 million in total.
“There is huge opportunity in the remittance market, only six perent of global remittances are digital and this space is expected to grow from $1.5 billion in 2017 to $8.5 billion by 2025. Our team is focused on increasing the digital share by building solutions that work for consumers from a brand they trust,” the CEO at TransferGo, Daumantas Dvilinskas, noted.
Ripple – TransferGo
In the realm of expanding its portfolio, TransferGo, a firm that experiences 100% year-on-year growth, recently partnered with Ripple to offer real-time payments corridor to Indians.
TransferGo, at the Ripple Swell 2018 Conference, talked about its new product, TrasferGo FREE, which will give users free global payments anywhere around the world.
TransferGo stated that it makes use of Ripple’s xCurrent in executing some of the transaction.
While the firm has more than 700,000 customers around the world, it performs about 1.5 million transactions a year.
Seedrs is a UK based equity crowd funding platform that allows investors to have stake in startups and already established businesses around Europe.
Launched in 2012 by Jeff Lynn and Carlos Silva as part of their master project at Oxford Saïd Business School, Seedrs became the first equity crowdfunding platform to be approved by the Financial Conduct Authority in May 2012.