TRANSFERMATE
23.5.2022 07:02:10 CEST | Business Wire | Press release
TransferMate, the world’s leading provider of B2B payments infrastructure as-a-service, today announced a $70M funding round bringing the company to a valuation of $1BN and $130M of total funding. Railpen, one of the largest UK pension funds, managing £37 billion, participated in the round.
TransferMate has grown its global licensing infrastructure and banking network to be one of the widest in the industry and has been chosen as the partner of choice to power B2B payments products for some of the largest software platforms, innovative banks and Fintechs in the world. This funding round which consists entirely of primary capital will be used to expand its teams globally and further invest in its technology innovation and product suite.
"We are delighted to welcome Railpen as a shareholder at this exciting time,” said Terry Clune, TransferMate’s Founder. “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.”
"Since the very beginning we have been on a mission to set new standards in how businesses make and receive international payments. Our commitment to deliver real-time transparency and speed when businesses are conducting cross border payments has resulted in TransferMate becoming the global B2B payments infrastructure of choice for the world’s leading procure-to-pay and spend management platforms,” said Sinead Fitzmaurice, CEO of TransferMate. "This investment will allow us to accelerate our mission to drive innovation as businesses seek to digitise their B2B payments within the core software that they use to conduct their day-to-day activities.”
This new round of investment together with the $1BN valuation further sets TransferMate apart as the world’s most comprehensive independent B2B payments network. It allows businesses and individuals to make cross-border payments in more than 201 countries and 141 currencies, as easily and cost-effectively as if making a domestic funds transfer, and with complete transparency of the transaction through to the point of final reconciliation.
“We are excited to be part of TransferMate’s journey as it seeks to enable companies to cost-effectively digitalise their cross-border payments,” said Julia Diez, Portfolio Manager at Railpen. “This investment continues Railpen’s strategy of investing in high quality, innovative growth companies for the long term, which supports our purpose to secure our members’ future.”
The funding round was managed by Barclays Bank PLC, acting through its investment bank.
If you would like to learn more about TransferMate’s infrastructure as a service, please contact us here .
About TransferMate
TransferMate – a subsidiary of CluneTech — is 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 lower cost. TransferMate, under the leadership of Clune and CEO Sinead Fitzmaurice, has built one of the largest portfolios of payments licenses worldwide, including 51 US states and territories, to support trading in more than 201 countries and 141 currencies. Leading banks, fintechs and software providers partner with TransferMate to offer an enhanced user experience for their business customers. The company has created bespoke integrations for banks like ING and AIB, who are also investors in the company. The TransferMate API solution allows partners to digitalise the payments flow within their software, enabling all businesses to achieve significant time and financial savings.
Info – https://www.transfermate.com/
About Railpen
Railpen one of the UK’s largest and longest established pension funds whose Fintech investments include Starling Bank and Bill.com. Railpen is responsible for the safekeeping and investment of circa £37 billion on behalf of the scheme’s 350,000 members.
About Barclays Bank PLC
Barclays Bank PLC which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, is acting for Transfermate only in connection with this funding round.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220522005038/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EVE Energy Strengthens European Operations Through Compliance, Local Manufacturing, and Regional Services2.7.2026 08:30:00 CEST | Press release
The Smarter E Europe 2026 opened in Munich on June 23 and runs through June 25, gathering global players from the clean energy sector on one of Europe’s most influential trade exhibition platforms. EVE Energy unveiled its Mr. Big Family series, a 6.9+ MWh energy storage system, all-scenario storage solutions, and high-performance EV batteries — showcasing its lithium-sodium dual-technology platform, full product portfolio, and localized European operational layout. During the exhibition, European clients showed strong interest in the company’s product performance and placed strong emphasis on sustained adherence to the EU’s evolving regulatory standards. This industry attitude further underscores that regulatory compliance readiness has become a fundamental prerequisite for accessing the European clean energy market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701651416/en/ The BMW iX3 displayed at the EVE Energy booth
Braun Launches the Next Generation of Electric Shaver With Braun NEVO Introducing a New Dawn of Smooth Touch2.7.2026 08:00:00 CEST | Press release
With over 100 years of exceptional German craftsmanship, Braun introduces Braun NEVO, an electric shaver redefining what a close shave and smooth skin mean. Every element has been reimagined: the sleek unibody stainless steel handle, the revolutionary AeroTouch™ Technology and advanced personalized display deliver a perfectly close shave without sacrificing comfort. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701842080/en/ Braun NEVO Shaver Oliver Grabes, Braun Head of Design, said: “At Braun, we set out to reimagine the shaving experience which led to the development of AeroTouch™ Shaving Technology, a cutting system engineered for ultra-low friction on the skin and high efficiency. This makes Braun NEVO our best shaver* setting a new standard for smooth skin.” Introducing the revolutionary world’s first AeroTouch™ Technology, featuring 250 diamond-sharp cutting edges and an exclusive Ultra gliding foil for a smooth g
Brenus Pharma Strengthens Its Governance With Designation of a New President and Appointment of Former Novo Nordisk EVP as Independent Member2.7.2026 08:00:00 CEST | Press release
Brenus Pharma, today announced key appointments to its board of directors. The company welcomes Eric DESSERTENNE, as President & Chairman of the board, succeeding co-founder Jacques GARDETTE, who will remain an active board member. Eric brings extensive experience in healthcare innovation and value creation, having notably led BIOCORP through its development and acquisition by Novo Nordisk. Brenus also appoints Camilla SYLVEST, as a second independent director, following the earlier addition of Diala EZZEDDINE a seasoned US-based biotech executive and entrepreneur. Camilla SYLVEST is an experienced pharmaceutical executive and global business leader, having spent nearly three decades at Novo Nordisk A/S, where she most recently served as Executive Vice President for Global Commercial Strategy, Corporate Communication and Sustainability. She currently serves on the Boards of Argenx SE, Getinge AB, and Zealand Pharma A/S, and has previously served on the Board of Danish Crown A/S and as
Access Advance and Alibaba Announce Alibaba's Expanded Participation in the VDP Pool2.7.2026 02:00:00 CEST | Press release
Access Advance LLC and Alibaba Group today announced that Alibaba has joined the Access Advance Video Distribution Patent Pool (VDP Pool) as a Licensee, securing a license to the pool's comprehensive coverage of HEVC, VVC, VP9, and AV1 codec technologies. The announcement marks a milestone in a multi-year collaboration between the two companies that spans the VVC Advance Patent Pool, where Alibaba participates as both a Licensor and Licensee, and the VDP Pool, where Alibaba joined as a Licensor in 2025. Alibaba's subsidiary Youku, one of China's leading streaming platforms, also joined the VDP Pool as a Licensee in 2025. Alibaba operates one of the world's most diverse video ecosystems, spanning a wide range of video-based services across e-commerce, entertainment, and digital media. As video has become central to how consumers shop, communicate, and access entertainment, the breadth of Alibaba's video operations reflects the kind of business model complexity the VDP Pool was designed
Vertex Announces US FDA Approval for Expanded Use of CASGEVY® for the Treatment of People Ages 2 Years and Older With Sickle Cell Disease or Transfusion-Dependent Beta Thalassemia2.7.2026 01:58:00 CEST | Press release
- First and only approved genetic therapy to treat children as young as 2 years for both severe sickle cell disease and transfusion-dependent beta thalassemia -- Approximately 5,500 additional children in the U.S. are now eligible for this established one-time therapy, expanding upon the prior FDA approval in people 12 years and older -- Regulatory review for label expansion underway in the Kingdom of Saudi Arabia and United Kingdom - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today that the U.S. Food and Drug Administration (FDA) has approved expanded use of CASGEVY® (exagamglogene autotemcel) for the treatment of people ages 2 years and older with either sickle cell disease (SCD) with recurrent vaso-occlusive crises (VOCs) or transfusion-dependent beta thalassemia (TDT). CASGEVY is the first approved genetic therapy indicated for children as young as 2 years for both SCD and TDT. “Just as we redefined what is possible in cystic fibrosis, our ambition is to transform
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom