About TransferMate
TransferMate is a company based in Kilkenny (Ireland) founded in 2010.. TransferMate has raised $129.86 million across 3 funding rounds from investors including ING, AIB Bank and Railpen. TransferMate has completed 1 acquisition, including Devisenwerk. TransferMate offers products and services including Embedded Payments Technology, Global Payments Infrastructure, and Online Payment Platform. TransferMate operates in a competitive market with competitors including Payoneer, Ebury, Airwallex, Tipalti and Flywire, among others.
- Headquarter Kilkenny, Ireland
- Stage Unicorn
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Transfermate Pty Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$129.86 M (USD)
in 3 rounds
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Latest Funding Round
$70 M (USD), Series B
May 23, 2022
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Investors
ING
& 2 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Products & Services of TransferMate
TransferMate offers a comprehensive portfolio of products and services, including Embedded Payments Technology, Global Payments Infrastructure, and Online Payment Platform. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables secure global payment integrations for partners and businesses
Facilitates cross-border transactions in multiple currencies
Allows white-labeled payment solutions for instant global transfers
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Sales and Marketing
16 people
Leadership Team
11 people
Relationship Team
10 people
Finance and Accounting
8 people
Strategic Team
7 people
Software Development Team
7 people
Head Team
6 people
Legal and Compliance
6 people
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Funding Insights of TransferMate
TransferMate has successfully raised a total of $129.86M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $70 million completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $70.0M
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First Round
First Round
(19 Nov 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2022 | Amount | Series B - TransferMate | Valuation | Railpen |
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| Jul, 2018 | Amount | Series A - TransferMate | Valuation | ING |
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| Nov, 2017 | Amount | Series A - TransferMate | Valuation | AIB Bank |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TransferMate
TransferMate has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include ING, AIB Bank and Railpen. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Manages pensions, investments, and administration for members across industries.
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Founded Year | Domain | Location | |
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Commercial banking and insurance services are provided globally by ING.
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Founded Year | Domain | Location | |
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Commercial banking services are provided to individuals and businesses.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TransferMate
TransferMate has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Devisenwerk. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cross-border remittances are enabled online for individuals and businesses.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - TransferMate
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Transfermate Comparisons
Competitors of TransferMate
TransferMate operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Payoneer, Ebury, Airwallex, Tipalti and Flywire, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border payments are enabled for businesses via diverse payout methods.
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| domain | founded_year | HQ Location |
Forex risk management and payment solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Cross-border payments are processed for businesses via tools and APIs.
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| domain | founded_year | HQ Location |
Cloud-based procurement and invoice management solutions are offered to businesses.
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| domain | founded_year | HQ Location |
Flywire is recognized as a global payments and software expert.
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| domain | founded_year | HQ Location |
Global payment solutions are provided by Rapyd to businesses worldwide.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Transfermate
Frequently Asked Questions about TransferMate
When was TransferMate founded?
TransferMate was founded in 2010 and raised its 1st funding round 7 years after it was founded.
Where is TransferMate located?
TransferMate is headquartered in Kilkenny, Ireland.
Is TransferMate a funded company?
TransferMate is a funded company, having raised a total of $129.86M across 3 funding rounds to date. The company's 1st funding round was a Series A of $35.39M, raised on Nov 19, 2017.
What does TransferMate do?
TransferMate was founded in 2010 in Kilkenny, Ireland, within the fintech sector. Global payment APIs are offered for integration with third-party systems worldwide. Banks, financial institutions, and businesses are enabled to send and receive funds across borders. Cross-border payment solutions are automated for end customers, supporting international B2B transactions in payments and receivables. Operations extend to multiple geographies through digital infrastructure.
Who are the top competitors of TransferMate?
What products or services does TransferMate offer?
TransferMate offers Embedded Payments Technology, Global Payments Infrastructure, and Online Payment Platform.
How many acquisitions has TransferMate made?
TransferMate has made 1 acquisition, including Devisenwerk.
Who are TransferMate's investors?
What is TransferMate's valuation?
The valuation of TransferMate is $1B as of May 2022.
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