British remittance firm TransferGo has bagged a further $3.4m through its Series B funding round.
The funding was provided by French venture capital firm Seventure Partners.
TransferGo CEO and co-founder Daumantas Dvilinskas said: “We’re delighted that 1m people around the world are now using Transfergo to send money to friends and family internationally.
“Our customers are at the heart of everything we do so reaching this milestone is huge testament to the work we’ve put into creating new solutions that work for our users, as well as a service that exceeds customer experience expectations.”
Last December, the money transfer firm raised $17.5m through its Series B funding round.
The round was led by Vostok Emerging Finance and Hard Yaka, who were joined by Revo Capital, U-Start Club and Practica Capital.
In order to facilitate its global expansion, TransferGo also launched a crowdfunding campaign with Seedrs.
TransferGo, which launched in 2012, currently has a reach in 47 countries.
L39, of which TransferGo is a member, said that Transferwise increases its user base by more than 2,000 per day.
Recent partnerships of TransferGo
In September 2018, the money transfer firm collaborated with Ripple.
The partnership was aimed at enabling blockchain-based near real-time transfers to India from European countries.
Last August, TransferGo teamed up with Onfido to accelerate enrolment for money transfers.