TransferGo started in 2012 when a group of entrepreneurs, fed up with the hassles of transferring money internationally, decided to create a better solution. Founded by Daumantas Dvilinskas and his team, TransferGo began to simplify this process. While it originally catered to individuals, an increasing number of businesses are now benefiting from its services for their transactions.
TransferGo’s standout feature is its exceptional customer service and the unique “local in, local out” transfer model that saves time and money. Whether customers are using the website or the mobile app, they can easily complete transactions from home, work, or even while traveling. Most transactions are completed the same day, with a guarantee of next business day delivery.
One business leveraging TransferGo’s fantastic customer service is Humble Grape, a London-based wine merchant that imports wines directly. By using TransferGo, their customers only pay for the wine, with no extra costs for agents or importers.
James Dawson, the CEO of Humble Grape, formed a relationship with TransferGo’s founders and highly praised their business model for its simplicity. He found it incredibly convenient to make payments anywhere, anytime, without the need for slow and costly bank processes.
Today, TransferGo is a vital service for wine merchants globally, thanks to its reliability. Humble Grape alone has saved over £25,000, making them unlikely to ever return to traditional bank transfers.
This growing trend shows that businesses are increasingly turning to fintech startups for their cross-border money transfers. Investment in this sector is booming, with an annual growth rate of 45% and a massive $13.7 billion invested last year.
Undoubtedly, fintech has transformed the international money transfer market, changing how people lend and borrow money. Instead of being bound by banking monopolies, startups are finding innovative ways to cut costs and provide better opportunities for both savers and borrowers through their online models.