Established in 2012, TransferGo was the brainchild of entrepreneurs tired of the difficulties they faced when transferring money across international borders. Sensing an opportunity, Daumantas Dvilinskas and his partners gave birth to this innovative solution. TransferGo primarily serves individual clients, but recently more business entities are reaping the benefits of their services, particularly for business transfers.
TransferGo’s exceptional customer service stands out, with their intuitive “local in, local out” transfer model that saves both time and money. Regardless if clients are using their website or mobile app, transactions can be conveniently completed at home, work, or even on the move. Next business day delivery is assured, with 90% of transactions turning around on the same day.
One business that has capitalized on TransferGo’s superb customer service is Humble Grape, a London-based wine merchant that imports all their wines directly. By utilizing TransferGo, their customers only pay for the wine they consume, without any add-ons for agents or importers.
James Dawson, the CEO of Humble Grape, established a connection with TransferGo’s founders and had high praises for their business model, specifically noting how user-friendly it was. He described his experience as “flawless,” adding that the ability to make payments anyplace, anytime without relying on banks, which he found to be slow and expensive, was particularly convenient.
Today, TransferGo has become an invaluable service to wine merchants worldwide, thanks to its reliable service. With savings surpassing £25,000, it’s no surprise that Humble Grape hasn’t even considered returning to traditional bank transfers.
It’s evident from this growing trend that businesses are increasingly seeking out fintech startups for their cross-border money transfer needs. Investment in the sector is skyrocketing, at an annual growth rate of 45%, with a staggering $13.7 billion invested in the last year alone.
Undeniably, fintech has revolutionized international money transfer markets, with far-reaching implications for the way people lend and borrow money. Gone are the days of banking monopolies, as startups ingeniously create ways to reduce margins, providing better opportunities for both savers and borrowers through effective online models.
