TransferMate raises USD 70 million to accelerate the transformation of cross-border B2B payments and strengthen its global presence as the company is now valued at USD 1 billion

DUBLIN, May 23, 2022-(BUSINESS WIRE)-TransferMate, the world’s leading provider of B2B payment infrastructure as a service, announced today that a $ 70 million fundraiser has raised the company’s value to one billion USD for total financing of 130 million USD. Railpen, one of Britain’s largest pension funds managing GBP 37 billion, participated in this fundraising campaign.

TransferMate has expanded its worldwide banking network and licensing infrastructure to become one of the most extensive offerings in the industry. TransferMate is the partner of choice for the world’s largest software platform, innovative banks and fintech when it comes to bringing B2B payment products to market. This fundraising campaign, which is entirely focused on core capital, will be used by the company to expand its international teams and invest more in its innovative technologies and product range.

“We are pleased to accept Railpen as a shareholder at this exciting time,” said Terry Clune, founder of TransferMate. “The combination of our technology and our global payment licensing network enables software, banking and fintech companies to make payments faster and at a lower cost than the traditional SWIFT system. . This investment will help us continue recruiting experienced financial talent who will help us expand our customer base. »

“From the very beginning, our mission was to set new standards for businesses that send and receive international payments. Our commitment to payment speed and real-time transparency when businesses make cross-border payments has enabled TransferMate to become the international B2B payment infrastructure of choice for leading procure-to -pay platform and cost management, ”said Sinead Fitzmaurice, CEO of TransferMate.“ This investment will allow us to accelerate our mission of driving change as businesses seek to digitize their B2B payments using the core software they use to run their day-to-day business. »

The new fundraising campaign along with the company’s $ 1 billion appreciation further identifies TransferMate as the most comprehensive independent B2B payment network in the world. It enables businesses and individuals to make cross-border payments in over 201 countries and 141 currencies as easily and effectively as making a domestic funds transfer, with full transaction transparency throughout the process and up to at the point of final reconciliation.

“We are excited to be part of the TransferMate journey, which aims to enable companies to digitize their cross-border payments,” said Julia Diez, portfolio manager at Railpen. “This investment gives Railpen the opportunity to pursue its strategy of long -term investments in innovative, high -quality, growth -focused companies to achieve its goal of ensuring the future of its members.»

This fundraising campaign is managed by Barclays Bank PLC, which acts through its investment bank.

If you would like to receive more information about the TransferMate infrastructure as a service, please contact us here.

About TransferMate

A subsidiary of CluneTech, TransferMate is the world’s leading provider of B2B payments infrastructure as a service, enabling businesses to send and receive cross-border payments faster, easier and at lower cost. Under the leadership of Mr. Clune and its CEO, Sinead Fitzmaurice, TransferMate has developed one of the largest payment license portfolios in the world, including in 51 U.S. states and territories, to support commerce in more than 201 countries. and in 141 money. Leading banks, fintech, and software companies partner with TransferMate to deliver an optimized user experience to their business customers. The company has created custom mergers for banks such as ING and AIB, which also invest in the company. The TransferMate API solution allows partners to digitize their payment flows into their own software, allowing all businesses to have significant savings in time and money.

Information – https://www.transfermate.com/

About Railpen

Railpen is one of the largest and oldest pension funds in the UK. His fintech investments include Starling Bank and Bill.com, among others. Railpen is supporting the conservation and investment of nearly £ 37 billion on behalf of its 350,000 members.

About Barclays Bank PLC

Barclays Bank PLC, which is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, is acting solely for Transfermate in connection with this fundraising campaign.

Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20220522005040/en/

contacts

For all media inquiries:
Fiona McCarthy
CluneTech Group Communications Manager
ganyan. : +353879314131
Email: fiona.maccarthy@clunetech.com

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