Penningtons Manches team has advised Vostok Emerging Finance Ltd (VEF) on its €3 million investment into TransferGo Holdings Limited in its latest funding round.
Bermuda-based VEF is a listed investment company on the Stockholm Stock Exchange that invests in early stage fast growth fintech companies across emerging and frontier markets.
TransferGo is an international money transfer company that has been one of the fastest growing companies in the industry since 2013. Headquartered in Canary Wharf’s Level39, Europe’s largest technology accelerator space for fintech companies, the business focuses on blue collar workers in Central and Eastern Europe who send money home to their families.
The investment from Vostok will help TransferGo to expand into new corridors and new channels.
The multi-disciplinary Penningtons Manches team of corporate, commercial and employment lawyers were led by corporate partner, Christopher Owen, and commercial and technology partner, Jon Bartley.