From forming prosperous new partnerships to achieving our highest Trustpilot score yet—it’s been quite a year for TransferGo. Despite Brexit and the Covid-19 pandemic causing global economic uncertainty, we’ve made many achievements that we’re immensely proud of.
And we couldn’t have done it without our hard-working team and you, our loyal customers. So we’d like to take this opportunity to thank you. You’ve put your trust in us and supported us every step of the way. And we’re incredibly grateful. We vow to continue to work hard to provide faster and more affordable cross-border payments that are secure and ever-reliable.
Looking back at the year is something we’re getting into the habit of doing. So without further ado, let’s reflect on our 2020 wins…
We’re incredibly fortunate and appreciative that we didn’t have to make one person redundant as a result of the Covid-19 pandemic. Thanks to significant growth, we were actually able to expand our team.
In October, we celebrated a major milestone when Aleskas joined our Customer Support team and became our 200th employee. Two months later, our employee figure is now 214! But we’re not done yet. We plan for further improvements and expansions as we cross over into 2021. Watch this space.
Prosperous new partnerships
From Sumsub to Veriff, 2020 was the year of some incredible partnerships for TransferGo. Most recently, we teamed up with Visa and Mastercard to enable customers to send money directly to a debit or a credit card. At the moment, this is possible for customers in up to 55 countries.
Creating great partnerships is at the heart of what we do. As the need for strong international digital payment structures rise, we’re able to help both new and existing customers by making cross-border payments easier, faster and more secure.
A Trustpilot score of 4.9/5
We’ve been rated ‘Excellent’ for a while on TrustPilot, with our score sitting comfortably around 4.8/5. However, last month things moved up a level when we climbed the ranks to a 4.9 rating. This made us the highest rated money provider on the platform. Yes, we’re pretty chuffed.
Achieving this incredible score is all down to our amazing team. From our country managers and people specialists to our engineers and graphic designers, every single employee and contractor is a valued member of our team.
We must however give a special shout-out to our Customer Support team. So many of our top reviews are full of praise for our CS specialists. With an average response time of just 20 seconds, they really do go above and beyond to help.
Making it work, virtually
When Covid-19 shook the world to its core back in March, many of us were sent into lockdown. Consequently, all of our offices went remote with staff instructed to work from home. Even today, our London office is still operating on a remote basis. The health and safety of our team are paramount.
Thankfully, we were already well equipped to move work out of the office. As our CCO Simon Moran explains, “We’re fortunate that we operate an entirely digital system already. And because some of us often worked from home, we already had the infrastructure in place to do so. In contrast to a lot of old-school businesses, we had the foundations in place to build from. That’s an important part of what’s enabled us to still be productive and successful at this time.”
But as well as staying productive and successful, we also stayed together. Thanks to the capabilities of Zoom meetings, the instant nature of Slack messages and the organisation aids of Asana, we’ve never been more connected. Here’s to being able to get together soon though.
New funding and (even more) new customers
We’re incredibly grateful for the funding we’ve received throughout our entire journey. Most recently, we received €5 million in financing from Silicon Valley Bank UK Branch (SVB). As a result, we’re able to continue developing and expanding our real-time payments platform for consumers, SMEs and enterprises.
And with that, our customer base keeps on growing. In June, we reached the 2 million customer milestone, which was an incredible feat at the time. But now, less than six months later, that figure is over 2.5 million—proving that this really is only the beginning.
Improved product and new receiver markets
And last but by no means least, we’ve made some incredible improvements to our product. In 2020, we continued to expand our receiver countries to make cross-border payments accessible to more people around the world. In the last 12 months alone, we’ve launched Bahrain, Ghana, Japan, Kuwait, Myanmar, Nigeria, Oman, Pakistan, Qatar, Saudi Arabia and Singapore.
We’ve also significantly improved our business accounts and API. Business users are now able to send to billions of accounts worldwide in less than 30 minutes. It’s completely hassle-free and you’ll continue to save 90% compared to banks. And thanks to our batch payments feature, you can now pay up to 50 suppliers or salaries in one go.
As a result of this, we’ve achieved significant growth in 2020. Since 2012 alone, we’ve transferred over 9 million transactions.
A final word from our CEO…
Speaking about these incredible feats, our CEO and co-founder Daumantas Dvilinskas says, “I’m super proud of my team who came together and delivered regardless of all the uncertainty. In 2020, we have doubled as a business, increased our team by 25% and became the best-rated money transfer app in Europe on TrustPilot. Thank you Team TransferGo. We wish you all a well-deserved break during the holidays.”
On that note, we wish you an incredible holiday too and we’ll see you in 2021. Thank you again.