With this investment, the company hopes to boost the expansion of its new product lines and quicken growth in the Asia-Pacific area.

From September 2021, when it held its latest financing round, TransferGo's valuation has doubled. Impressive financial results—TransferGo saw a 50% increase in revenue and turned a profit in 2023—support this spike in price. Unlike the previous year's market trends, the company increased its workforce by more than 30% and bolstered its leadership with international expertise.

Our goal is to make the world a more equitable place for all people. With the latest investment, our business can begin a new chapter and expand faster in the Asia-Pacific region by giving more people access to more equitable financial services. Furthermore, we will persist in allocating resources towards expanding our product portfolio and delivering greater benefits to our global clientele," remarks Daumantas Dvilinskas, Co-Founder and CEO of TransferGo. "The doubling of our company's valuation, considering the problematic capital market conditions, validates our robust business model and positions us among the fastest-growing consumer finance service brands worldwide."

The company's cutting-edge product line and customer-focused philosophy are what propel its growth trajectory. 80% of transactions are delivered promptly, around the clock, at a market-leading gross margin of nearly 90%. Because of this, TransferGo is able to provide its customers a market-leading solution that guarantees dependability and accessibility. Remarkably, TransferGo has established a reputation for satisfying clients, as seen by its industry-best 4.7/5 TrustPilot rating. TransferGo serves more than 7 million users and is present in 160 countries as of last year.

Taiwania Capital CEO David Weng states, "The company's audacious goal and well-defined business plan have won us over. TransferGo has a demonstrated track record of success in fostering an environment that is supportive of financial inclusion and has an extraordinary focus on adding value for its clients.

As Taiwania Capital's Managing Partner for its CEE fund, Mitch Yang, points out, TransferGo is evidence of the beneficial effects of innovation and technology on everyday people's lives. With this investment, we continue to actively support TransferGo's growth and development, especially in the East and Southeast Asian regions, as we reaffirm our unshakable commitment in its goal.