In December 2019, Transfer Galaxy’s customers sent over 100MSEK through its platform. The company also simultaneously opened up its money transfer service to eleven new markets in Africa, the Middle East, and Asia.
Transfer Galaxy continues to grow. Last summer it reached a transaction volume of one billion SEK and most recently in December, it reached its goal of 100 million SEK in monthly transaction volume.
– We are incredibly proud of our customers across Europe. They trust us immensely to help them send money in a hassle-free way to their loved ones who really need it, says Yosef Mohamed, co-founder, and CEO of Transfer Galaxy.
At the start of 2020, Transfer Galaxy is expanding its service by introducing eleven new recipient countries. The company is now offering its service for digital remittances to a total of 37 countries.
– We are in constant contact with our users and listen to them. As a result, we are incredibly proud that we can now offer a broader range of recipient countries. It also means that we can help even more people send money home to their loved ones, says Yosef Mohamed, co-founder, and CEO of Transfer Galaxy.
Democratizing remittances
A large part of the world’s population lives without access to financial institutions. Transfer Galaxy wants to democratize international payments and help make remittances cheaper, safer and smarter with their digital services. Now Transfer Galaxy will enable money transfers to a total of 37 countries around the world.
When we ask our customers why they send money, the majority respond that they support their loved ones. This money goes towards education, healthcare, and food, says Yosef Mohamed, co-founder, and CEO of Transfer Galaxy.
The eleven new markets that can now receive money through Transfer Galaxy are Thailand, Gambia, India, Malaysia, Vietnam, Pakistan, Bangladesh, Qatar, Oman, Kuwait and, South Africa.
– We are always aiming to become the obvious choice for immigrants who send money from Europe, and therefore, it feels rewarding and exciting when we expand our offering, says Yosef Mohamed.
More about Transfer Galaxy’s payment service
Through Transfer Galaxy’s digital service, immigrants in Europe can send money to their relatives and friends who depend on their support in their home countries. The service is available 24 hours a day, and in most cases, it takes seconds before the money is transferred to the recipients.
The increased traceability and automated process mean that Transfer Galaxy can offer the customers a service that is safer and cheaper than the traditional methods of sending money.
The company was founded in 2014 by Yosef Mohamed, Khalid Qassim, Ali Mohamed, Mustafa Ibrahim, and Abdirahman Ahmed. Today, the company has 37 employees at its headquarters in Vivalla, Örebro. Transfer Galaxy has raised money from BackingMinds and Alfvén & Didrikson and established its service in 24 European countries.
For more information
Yosef Mohamed, CEO, TransferGalaxy
+46 73-892 19 62
yosef.mohamed@transfergalaxy.com
Kristine Johnson, CCO, TransferGalaxy
+46 73-230 71 77
kristine.johnson@transfergalaxy.com