I’m really excited to be launching our crowdfunding campaign with Seedrs that is now open for pre-registration and will go fully live on October 29th.
Through participating in the campaign, we want to give our customers an opportunity to share in our success as we build more solutions to remove friction from the world of financial services, by making them cheaper, faster and easier to use.
We have come this far thanks to the 750,000 people that have already used our services. Since our launch in 2012, we have built the world’s fastest and most reliable infrastructure for remittances, because we believe that in 2018 consumer financial services should be fit for a global, mobile society.
Our journey and growth is powered by those customers, and this crowdfunding campaign is a way to bring customers even closer to our mission as we boost international expansion and develop new products. In the short time since we opened pre-registration, we have already received close to 5,000 people express interest in investing. You can join these people by pre-registering to be part of the journey here.
We’ve already introduced many industry innovations. We are the first company to guarantee a 30-minute delivery of funds across borders. With our technology, you can send money to your friends and family, wherever they are, in real time. We have managed to reduce the cost of transferring money overseas by 90%, and saved our customers $25 million.
Everything we do is for our customers. The team at TransferGo and I have always focused on building solutions to solve people’s biggest pain points. Through our hard work and determination, we became this year the best reviewed consumer finance company in the world. This is one of my proudest achievements and the real reason why I started this company.
In this crowdfunding campaign we are expecting to raise €2 million to boost our international expansion and product innovation plans. I see a huge opportunity in the remittance market. Today only 6% of global remittances are digital, with most transactions still cash-based. The online remittance market is expected to grow from $1.5 billion in 2017 to $8.5 billion by 2025.
And TransferGo is uniquely positioned to capitalise on this opportunity. We have a brand people love and trust, and a team focused on building new solutions that work for consumers to enable frictionless transactions.
We have already started to expand our portfolio with recent introductions of a cryptocurrency trading facility, a Ripple-enabled real-time service in India, and our latest and most revolutionary announcement, TransferGo FREE. We are offering the first completely free international money transfer service that allows customers to transfer money around the world at absolutely no cost. And last week, we won the Blockchain Innovator of the Year award by Ripple.
The future of the business is bright. We believe the only way to succeed when bringing a new product to market or launching in a new country is through dedication to our customers, and this crowdfunding campaign was conceived in that spirit. Your benefit is our success.