Transfast
Transfast is a New York-based private remittance company founded in 1988 that provides international money transfer services, targeting cost-conscious cross-border senders with a stated lowest-cost market positioning across multiple global corridors.
- Company typePrivate
- Founded1988
- HeadquartersNew York, United States
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
Transfast firmographics
Firmographics- Name
- Transfast
- Website
- https://global.transfast.com
- Company type
- Private
- Founded year
- 1988
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Transfast is a New York-based private remittance company founded in 1988 that provides international money transfer services, targeting cost-conscious cross-border senders with a stated lowest-cost market positioning across multiple global corridors.
- Ownership category
- akta.pro rank
Transfast industry classification
Industry- Product category
- Money Remittance Services
- akta.pro primary industry
- Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)
- akta.pro secondary industry
- International Wire Transfer Processing (SWIFT/Correspondent Banking) (FSAMAHAB)
Keywords
Where Transfast is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Transfast business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Transfast product offering
Product offeringCore offering
Transfast operates as a money transfer company that offers cross-border remittance services, enabling customers to send money internationally. The company's offering is positioned as a lowest-cost remittance service, targeting individuals and others who need affordable international money transfer capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- International Money Transfer / Remittance Service Cross-border remittance service enabling customers to send money internationally, positioned as the lowest-cost remittance offering in the market. Targeted at individuals and others needing affordable international money transfers.
Companies that use Transfast
Customer profileIdeal customer profiles1 record
Transfast technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Transfast competitors and assessment
Company assessmentBroad incumbents
- Xoom (PayPal): Xoom is PayPal's cross-border money transfer service, offering digital remittances to 160+ countries. It is comparable as a remittance product within a broader incumbent payments platform competing in the same corridors as Transfast.
- Revolut: Revolut is a UK-based neobank offering multi-currency accounts and cross-border transfers. It is comparable to Transfast as a broader fintech incumbent expanding into remittance and FX services, especially across European and UK-US corridors.
Direct peers
- MoneyGram: MoneyGram is a major US-headquartered cross-border P2P money transfer company with extensive agent and digital rails. It competes head-to-head with Transfast in price-sensitive migrant remittance corridors, particularly US-LATAM and US-Asia.
- Remitly: Remitly is a US-based digital remittance fintech serving immigrant corridors via mobile and web. It competes with Transfast on the same customer base (diaspora senders) using a digital-first, low-cost model.
- Sendwave: Sendwave (owned by Zepz) is a mobile-first remittance app focused on African and Asian corridors with zero-fee transfers. It is comparable to Transfast as a low-cost digital remittance alternative for diaspora senders.
- Ria Money Transfer: Ria (owned by Euronet Worldwide) is a global remittance operator with a large agent network. It competes directly with Transfast in cash-pickup and bank-deposit remittance corridors worldwide.
- WorldRemit: WorldRemit is a UK-based digital remittance company serving migrant senders with mobile money, bank deposit, and cash payout options. It targets the same diaspora customer base as Transfast with a digital-first model.
- Wise: Wise (formerly TransferWise) is a UK-headquartered cross-border payments platform offering mid-market FX and low-fee transfers. It is directly comparable as a price-disruptive remittance and multi-currency transfer provider.
- Western Union: Western Union is the largest global money transfer operator with an agent network spanning 200+ countries. It is directly comparable to Transfast as both compete in cross-border consumer remittance on price, payout options, and corridor coverage.
Emerging players
- Paysend: Paysend is a UK-based digital remittance and card-to-card cross-border payments provider. It competes in similar corridors with a low-cost, app-based model targeting diaspora senders, positioning it as an emerging challenger to Transfast.
Market position
Customer concentration
Transfast social profiles
Digital presenceTransfast financial estimates
Financial estimateRevenue estimate
Valuation estimate
Transfast leadership team
Management profileNumber of profiles
Profiles1 record
Transfast funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Transfast M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Transfast
What does Transfast do?
Transfast operates as a money transfer company that offers cross-border remittance services, enabling customers to send money internationally. The company's offering is positioned as a lowest-cost remittance service, targeting individuals and others who need affordable international money transfer capabilities.
When was Transfast founded?
Transfast was founded in 1988. It employs 501 to 1,000 people.
Where is Transfast based?
Transfast is headquartered in New York, United States, in the North America region.
Who are Transfast's main competitors?
Broad incumbents on record are Xoom (PayPal) and Revolut. Direct peers are MoneyGram, Remitly, Sendwave, Ria Money Transfer, WorldRemit, Wise and Western Union. Paysend is listed as an emerging player.
Does Transfast have an API?
No public API is recorded for Transfast.
What industry is Transfast in?
Transfast's product category is Money Remittance Services. Its primary akta.pro industry code is FSAGAKAH, Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity), with a secondary code of FSAMAHAB, International Wire Transfer Processing (SWIFT/Correspondent Banking).