2020 was a tough year for everyone. But it seems that resilience has won in the face of struggle. More people are sending money, and getting back on their feet. Which means that we’re doing well, too.
We had a strangely, but phenomenally, successful 2020—so 2021 always had a lot to live up to. But less than six months into the year, we’re flying higher than ever, and there are many TransferGo achievements to shout about. Yes—we’ve defied remittance predictions and hit many major new milestones.
From prosperous new partners and exciting new markets to team expansions and record money flow, there’s a lot for Team TransferGo to be proud of. And that we are.
But as we often say, we couldn’t do any of this without you, our amazing customers. We’d like to thank you for continuously providing your trust and support. And we promise to keep working hard to make cross-border payments easier and more accessible to more and more customers around the world.
Let’s reflect on some of our 2021 wins (so far)…
As TransferGo reaches more destinations, our customer base continues to grow. Earlier this year, we hit the 2.5 million customer mark! Not only that, but we hit the major milestone of 10 million customer transactions and £3 billion in international money flow.
All of this comes during a 12-month period when the World Bank predicted the sharpest decline in remittances as a result of the Covid-19 pandemic. But as we continue to prove, demand for real-time transfer services remains high. And our easy, fast and affordable money transfers provide migrants around the world with the perfect solution.
From Sumsub and Veriff to Visa and Mastercard, we formed many prosperous new partnerships in 2020. But since then, we’ve significantly expanded our partner network even further. Yes, we might only be six months in but this year, we’ve already established collaborations with major industry players in order to improve our product, platform and user experience.
Back in February, we partnered with Thought Machine to propel our ongoing product innovation and drive further expansion by taking advantage of their next-generation cloud-native core banking platform, Vault. At the time, our CFO and Co-Founder, Justinas Lasevičius said, “This partnership demonstrates our momentum in investing, innovating and disrupting the global remittance market.”
2020 saw a huge increase in our market reach. But in 2021, we’ve blown these numbers out of the water. Thanks to our partnerships with Visa and Mastercard, we’ve already unlocked 95 new markets this year.
By integrating with Mastercard Send™ and Visa’s real-time push payments platform, Visa Direct, we’ve made pay to card services possible for more and more customers around the world. Our new markets include the likes of Moldova, Georgia, Ghana, Saudi Arabia and Vietnam, taking our total reach to over 160 destinations. But don’t worry, we’re not done yet.
All of this hard work doesn’t happen by itself. As well as our loyal customers (that’s you), we also rely on the unique vision and hard work of Team TransferGo. And as we further expand into new markets and launch new products, our team naturally needs to grow, too.
Since the start of 2020, we’ve hired and onboarded over 55 new Transfernauts. This takes our employee count up to almost 240. In addition, we rely on the work of our contractors, freelancers and partners to get the job done. So far, so pretty darn good.