LONDON, UNITED KINGDOM, TransferGo, an international electronic money-transfer startup, has added 200,000 euro in seed funding from existing investor Practica Seed Capital.
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A company hoping to capitalize on the growing web-based international money transfer industry has added 200,000 euro in seed funding from an existing investor.
TransferGo, a London-based firm launched in 2012, received an additional 200,000 euro in seed funding from Practica Seed Capital, according to published reports. Practica also provided seed funding to the company in 2012, according to its website.
TransferGo allows its users to transfer money online from their own bank accounts to TransferGo accounts. Customers are allowed to transfer a maximum of 5,000 pounds per day for a fixed-rate fee of 2.5 pounds, and offer alternative fee structures for customers seeking bigger transfers. It has relationships in the UK with Lloyds TSB, NatWest, Barclays, and HSBC. The company announced in September that it had expanded into Belgium and France, and has also expanded recently into Italy, Greece, Spain, Ireland, and Latvia.