The well-known payment and transfer company, TransferGo, which is one of Ripple's main partners (XRP), announced today that it will carry out an equity fund raising campaign of EUR11.5 million.
TransferGo, which refers to a digital remittance solution for migrant workers, noted that it will manage the campaign on Seedrs, a crowdfunding platform.
The UK remittance company intends to use the campaign that involves a commitment of 10.5 million euros from investors to improve its international expansion and product development.
In addition to investors, it has been claimed that over 5,000 people have pre-registered to invest, therefore, it is expected to raise 11.5 million euros in total.
"There's a huge opportunity in the remittance market, only six percent 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 of a brand they trust, "noted the CEO of TransferGo, Daumantas Dvilinskas.
Ripple (XRP) – TransferGo
As part of the expansion of its portfolio, TransferGo, a company that grows 100% year-on-year, has recently partnered with Ripple (XRP) to offer a real-time payment corridor to Indians.
TransferGo, at the Ripple Swell 2018 Conference, talked about its new product, TransferGo FREE, which will offer users free global payments worldwide.
TransferGo has stated that it makes use of Ripple & # 39; s xCurrent in the execution of some of the transactions.
While the company has more than 700,000 customers worldwide, it performs around 1.5 million transactions annually.
Information on Seedrs
Seedrs is a UK equity equity crowdfunding platform that allows investors to participate in start-ups and already established businesses across Europe.
Launched in 2012 by Jeff Lynn and Carlos Silva as part of their master project at the Oxford Saïd Business School, Seedrs became the first equity crowdfunding platform to be endorsed by the Financial Conduct Authority in May 2012.