TransferGo
TransferGo is a UK- and Lithuania-regulated cross-border payments fintech that provides low-cost international money transfers, multi-currency accounts, the GoCard debit card, and business payment services to more than 9 million consumers and businesses across 160+ countries.
- Company typePrivate
- Founded2012
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What TransferGo does
TransferGo is a London-headquartered cross-border payments fintech founded in 2012 that operates a digital money transfer platform serving more than 9 million customers across over 160 countries. The company's primary customer segment is migrant workers and individuals sending remittances internationally; a secondary segment comprises businesses using TransferGo Business for multi-currency accounts, batch payments, and FX. Core products include international money transfers, a multi-currency personal account, the GoCard debit card (physical and virtual, Visa/Mastercard, Apple Pay-enabled), and a business platform with batch payments and savings accounts; supporting utilities include a currency converter, IBAN checker, and SWIFT/BIC lookup. The underlying technology model is account-to-account: TransferGo maintains local bank account networks in each serving country, so both the send-leg and receive-leg execute as domestic transfers rather than cross-border wires, structurally reducing per-transaction cost. The company is dual-regulated — FCA-authorised as an EMI in the UK (FRN: 991295) and Bank of Lithuania-licensed (licence 36, expanded in February 2026) via its Lithuanian operating entity — with operations also headquartered regionally in Vilnius.
Revenue mechanics combine dynamic transaction fees (varying by pay-in and pay-out method) with FX margins on currency conversion, plus ancillary revenue from the GoCard physical card sale (£4.99 one-off) and ATM withdrawal fees. Go-to-market is product-led and direct-to-consumer: mobile apps on iOS, Android, and Huawei, a localized web platform in 12+ languages, app store ratings of 4.9/4.8, an "Excellent" Trustpilot rating across 35,000+ reviews, and an Invite-a-Friend referral programme drive organic acquisition; the company has raised approximately $77 million cumulatively, most recently $10M from Taiwania Capital in April 2024 to fund Asia-Pacific expansion, and publicly reported profitability in 2024.
TransferGo firmographics
Firmographics- Name
- TransferGo
- Legal name
- TransferGo Ltd
- Website
- https://transfergo.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- TransferGo is a UK- and Lithuania-regulated cross-border payments fintech that provides low-cost international money transfers, multi-currency accounts, the GoCard debit card, and business payment services to more than 9 million consumers and businesses across 160+ countries.
- Ownership category
- akta.pro rank
TransferGo industry classification
Industry- Product category
- Cross-Border Money Transfer / Digital Remittances
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)
- akta.pro secondary industries
- Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE), International Wire Transfer Processing (SWIFT/Correspondent Banking) (FSAMAHAB), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)
Keywords
Where TransferGo is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
TransferGo business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Money Transfer Fees: TransferGo charges dynamic fees depending on the pay-in method (credit card, debit card, bank transfer, wallet), pay-out method (bank account, card, wallet), and transfer amount. Fees are transparent and shown upfront before confirmation. Bank transfers are typically the cheapest option while card payments are faster but may incur higher fees.
- Currency Exchange Margins: TransferGo earns revenue through the spread between the exchange rate offered to customers and the mid-market rate. The company states they pass on savings from low-cost local transfers to customers through competitive exchange rates.
- GoCard Debit Card: Physical GoCard issued for a one-off fee of £4.99 covering manufacturing and delivery. Additional revenue generated from ATM withdrawal fees after free monthly limits are exceeded (1.5% in UK/EEA, 3% rest of world).
- Business Account Services: Multi-currency business accounts for international business payments, batch payments, and business savings accounts. Revenue derived from transaction fees and currency exchange margins on business transfers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Free transfers with dynamic fees |
| One time/ perpetual license | Pay-as-you-go | GoCard Physical Card |
| Transaction based/ take rate | Pay-as-you-go | Business multi-currency account |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
TransferGo product offering
Product offeringCore offering
TransferGo is a digital money transfer platform that enables individuals and businesses to send money internationally to over 160 countries via local account-to-account rails. The offering includes international remittances, a multi-currency personal wallet, the GoCard Visa/Mastercard debit card for spending, and a TransferGo Business product with multi-currency business accounts, batch payments, and business savings accounts. All services are accessible via iOS, Android, and Huawei mobile apps and a multilingual web platform, with pricing, fees, and FX rates shown transparently before confirmation.
Product overview
TransferGo is a digital money transfer platform operating as a unified product ecosystem. The core service is international money transfers to 160+ countries, which connects to the multi-currency account for wallet functionality and GoCard for spending capabilities. For business users, TransferGo Business extends the platform with multi-currency business accounts, batch payments, and savings accounts. Supporting utilities include currency converter, IBAN checker, SWIFT/BIC codes lookup, and invoice generator. All services are accessible via a single mobile app (iOS, Android, Huawei) and web platform, with both personal and business offerings sharing the same infrastructure but differentiated by account types and fee structures.
Differentiator
Problem solved
Functional benefit
Brands
- GoCard: A debit card product offered by TransferGo that provides secure, contactless spending. Available as both virtual and physical cards.
- TransferGo Business
Products and services
- International Money Transfer Core digital money transfer service enabling individuals to send international remittances to over 160 countries, with low fees, competitive exchange rates, and multiple payout options including bank accounts, cards, and digital wallets. Primarily used by migrant workers and individuals sending money to family abroad.
- GoCard Debit Card Debit card product (both virtual and physical, Visa/Mastercard-branded) issued via B4B Payments that provides secure, contactless spending for TransferGo users, ATM withdrawals, online shopping, and tap-to-pay via Apple Pay.
- Multi-Currency Account
Companies that use TransferGo
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles1 record
TransferGo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
TransferGo partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and supporting.
- B4B paymentscoreB4B payments is the card service provider for TransferGo's GoCard debit card, operating pursuant to Visa license. B4B handles specific operations such as card personalisation and delivery, with TransferGo's Privacy Policy governing customer data.
- TinksupportingTink is an open banking partner that provides TransferGo users access to their accounts with other providers and enables payments from those accounts to TransferGo. Users must enter account access details accurately and comply with Tink's terms and conditions.
- VisacoreVisa acts as the card network for TransferGo's GoCard debit card service, providing the infrastructure for card transactions, contactless payments, and ATM withdrawals worldwide.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
TransferGo competitors and assessment
Company assessmentDirect peers
- Wise: Wise (formerly TransferWise) is the leading direct peer, operating a multi-currency account-to-account remittance platform serving both consumers and businesses globally. Wise and TransferGo compete head-to-head on price, speed, and corridor coverage in migrant-worker and SMB cross-border payments.
- Remitly: Remitly is a digital remittance company focused on immigrant corridors, with a mobile-first consumer product highly comparable to TransferGo's core offering. Both target migrant workers with low-cost, fast transfers and have invested in mobile app user experience and customer trust signals.
- WorldRemit: WorldRemit is a direct competitor in digital cross-border money transfers, serving migrants and individuals sending money to 130+ countries. Its product breadth (bank deposit, mobile wallet, airtime top-up payouts) overlaps directly with TransferGo's payout options.
- Xe Money Transfer: Xe is a consumer-focused international money transfer service offering cross-border payments and currency tools, listed alongside TransferGo in Forbes' 'Best Money Transfer Apps of 2026'. Xe competes in similar corridors with comparable fee and exchange-rate positioning.
- OFX: OFX is a cross-border payments and FX specialist serving both individuals and businesses with international transfers and multi-currency services. It overlaps with both TransferGo's consumer remittance and TransferGo Business offerings, with comparable B2B focus.
- TorFX: TorFX is a UK-based foreign exchange and international payments provider for individuals and businesses. It is a direct peer to TransferGo in cross-border money movement, particularly in the GBP/EUR corridors where TransferGo is strongest.
Broad incumbents
- Revolut: Revolut is a broad digital banking super-app offering multi-currency accounts, international transfers, and a debit card among many other features. It overlaps with TransferGo's remittance and multi-currency wallet products but as part of a much wider consumer banking portfolio rather than a specialist offering.
- Western Union: Western Union is the dominant legacy incumbent in cross-border money transfers, with global agent and digital channels. Its digital business competes with TransferGo for migrant remittances, but its scale and agent network make it a far broader incumbent.
- MoneyGram: MoneyGram is a global cross-border P2P payments and money transfer incumbent with both digital and retail agent footprints. It competes with TransferGo in remittance corridors but operates as a broad incumbent across multiple payment services rather than a fintech specialist.
Emerging players
- N26: N26 is a European digital bank offering multi-currency accounts and international transfers among its feature set. While broader in product scope, it increasingly competes with TransferGo for European consumer and SMB cross-border payment volume, particularly in the EUR corridor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
TransferGo social profiles
Digital presenceTransferGo financial estimates
Financial estimateRevenue estimate
Valuation estimate
TransferGo leadership team
Management profileNumber of profiles
Profiles10 records
TransferGo funding detail
Funding detailFunding overview
Funding rounds14 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TransferGo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TransferGo
What does TransferGo do?
TransferGo is a digital money transfer platform that enables individuals and businesses to send money internationally to over 160 countries via local account-to-account rails. The offering includes international remittances, a multi-currency personal wallet, the GoCard Visa/Mastercard debit card for spending, and a TransferGo Business product with multi-currency business accounts, batch payments, and business savings accounts. All services are accessible via iOS, Android, and Huawei mobile apps and a multilingual web platform, with pricing, fees, and FX rates shown transparently before confirmation.
Is TransferGo a public or private company?
TransferGo is a private company. It is classified as venture growth investor backed and is currently operating.
When was TransferGo founded?
TransferGo was founded in 2012. It employs 251 to 500 people.
Where is TransferGo based?
TransferGo is headquartered in London, United Kingdom, in the Europe region.
How does TransferGo make money?
Four revenue lines are on record. Money Transfer Fees are the primary driver. The others are currency Exchange Margins, goCard Debit Card and business Account Services.
Who are TransferGo's main competitors?
Direct peers on record are Wise, Remitly, WorldRemit, Xe Money Transfer, OFX and TorFX. Broad incumbents are Revolut, Western Union and MoneyGram. N26 is listed as an emerging player.
Does TransferGo have an API?
Yes. TransferGo offers an Open Banking API that enables secure access to banking services. The API is accessible via developer.tell.money/transfergo-eu and allows partners to integrate TransferGo's payment and money transfer services. Developer documentation is at developer.tell.money/transfergo-eu.
What industry is TransferGo in?
TransferGo's product category is Cross-Border Money Transfer / Digital Remittances. Its primary akta.pro industry code is FSAGAKAH, Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity), with a secondary code of FSAMAFAC, Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant). Its NAICS code is 522320 and its SIC code is 6199.