Cross-border B2B payments company TransferMate has clinched unicorn status on the back of a $70 million funding round.
Railpen, one of the largest UK pension funds, managing £37 billion, participated in the round, which bring total funding for the Irish payments processor to $130 million. Previous investors and customers include ING and Allied Irish Banks.
TransferMate has built a large portfolio of payment licenses across the globe, offering businesses local ACH access to 141 currencies in 201 countries.
Terry Clune, TransferMate’s founder, says: “By combining our technology and our global licence network, we empower software providers, banks and fintechs to deliver payments dramatically faster & cheaper than the traditional Swift system. We will use this investment to continue to recruit senior financial talent who can help broaden our customer base.”