TransferMate has raised €66M in a fresh round of funding Dublin-based TransferMate, a global B2B payments technology startup that enables companies to send and receive payments cheaper, faster, and easier than before, has announced that it has raised $70M (approximately €66M) in a fresh round of funding.

With over $130M of total funding, the B2B payments infrastructure-as-a-service provider has now earned the status of a ‘unicorn’ and currently sits on a valuation of $1B. The investment was made by Railpen, one of the UK’s largest and longest established pension funds, whose fintech investments include Starling Bank and bill.com. TransferMate reports that the company’s licensing network and bank network have grown, enabling them to partner and provide B2B payments for some of the biggest software platforms, banks, fintech, and fintech worldwide. The company will use the capital to expand its global teams and invest further in technology innovation and product development. Founded in 2010 by Terry Clune and Sinead Fitzmaurice, TransferMate, a subsidiary of CluneTech, claims to be the world’s leading provider of B2B payments infrastructure as a service, enabling companies to send and receive cross-border payments faster, easier, and at a lower cost. Banks, fintech, and software providers partner with TransferMate to offer user experience for their business customers around the world. Using TransferMate’s technology and global banking infrastructure, companies benefit from better exchange rates, transparency, and improved reconciliation via direct integration into accounting and ERP systems. The company’s API solution allows partners to digitalize the payment flow within their software, enabling them to achieve significant time and financial savings. According to the company’s claims, they have created bespoke integrations that banks such as ING or AIB can use. These investors are also part of the company. TranserMate is currently available to allow individuals and businesses cross-border payments in over 201 countries, and in 141 other currencies.

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