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
Digital Reef Signs Offtake Agreement with Oreasoc Agriculture to Mitigate the Environmental Footprint of Data Centre Growth Through Rainforest Protection, Appointing Xange.com as Digital MRV Partner25.9.2026 21:19:00 CEST | Press release
The offtake agreement connects Digital Reef’s 3.3 GW data centre pipeline with environmental assets from more than 30 million hectares of Amazon rainforest across South America, where Oreasoc Agriculture works directly on the ground alongside local communities to develop sustainable economies and safeguard their territories. Xange.com’s digital MRV technology monitors both the data centres and the rainforest. At Climate Week NYC, Digital Reef and Oreasoc Agriculture Inc. sign an offtake agreement connecting Digital Reef’s 3.3 GW data centre pipeline with environmental assets exceeding 30 million hectares of South American Amazon rainforest, mitigating the environmental footprint of data centre growth through rainforest protection and restoration where Oreasoc works alongside local communities to protect biodiversity, develop sustainable economies and safeguard their territories. Xange.com are appointed as digital MRV technology partner to monitor the data centres and rainforest where D
NetApp Announces Intent to Acquire PEAK:AIO to Advance Scalable AI Infrastructure Architecture25.9.2026 15:00:00 CEST | Press release
Planned acquisition strengthens NetApp's position in the rapidly growing AI infrastructure market by bringing differentiated metadata innovation and parallel file architecture designed for AI NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced its intent to acquire PEAK:AIO, a pioneer in next-generation metadata architecture and high-performance parallel file systems. The planned acquisition is expected to accelerate NetApp's AI infrastructure roadmap by augmenting metadata services and parallel namespace innovation designed to help AI clouds scale shared storage alongside growing GPU clusters. As AI becomes embedded in every enterprise workload, organizations are confronting a new challenge: traditional storage architectures were not designed for the unprecedented scale, concurrency, and performance requirements of AI factories, AI clouds, and next-generation data-intensive applications. NetApp is building an architecture that disaggregates metadata fr
MultiBank Group Secures Two Awards at Forex Expo Dubai 202625.9.2026 14:57:00 CEST | Press release
The Group was recognised for the strength of its global institutional ecosystem and its contribution to financial markets innovation and community impact MultiBank Group, one of the world’s largest financial derivatives institutions, received two awards during its participation at Forex Expo Dubai 2026, held on 22 and 23 September at Dubai World Trade Centre. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260925539591/en/ MultiBank Group was named “Best Global Institutional Financial Ecosystem of the Year” and received the award for “Excellence in Global Financial Markets Innovation and Community Impact.” The Group was named “Best Global Institutional Financial Ecosystem of the Year” and received the award for “Excellence in Global Financial Markets Innovation and Community Impact.” The first award recognised the strength and breadth of MultiBank Group’s global institutional offering, which brings together trading, liquidity
Croma-Pharma Introduces saypha® volume prime Lidocaine25.9.2026 14:04:00 CEST | Press release
New cross-linked hyaluronic acid filler replaces saypha® volume Lidocaine, offering physicians a more versatile solution for both midface volumization and nasolabial folds Croma-Pharma introduces saypha® volume prime Lidocaine, a cross-linked hyaluronic acid dermal filler that replaces saypha® volume Lidocaine within the company's saypha® portfolio. The new product offers physicians a more versatile solution with expanded indications for both midface volumization and nasolabial folds, backed by strong clinical data. 1,2 saypha® volume prime Lidocaine demonstrated non-inferiority to comparatora in a randomized, subject- and evaluator-blinded, controlled, non-inferiority multicenter, parallel group comparison study with almost 500 patients.2 In the clinical evaluation, a high patient satisfaction highlights improved midface fullness, smoothness and contour, consistent with a rheologic profile designed to provide volumization in the mobile midface.b,2 With saypha® volume prime Lidocaine,
Abacus Global Management Completes Landmark $400 Million Securitization25.9.2026 14:00:00 CEST | Press release
~ Dual-tranche structure and investment-grade rating reflect a maturing securitization platform ~~ Transaction was oversubscribed and upsized amid strong demand from institutional fixed income investors ~~ Closing advances Abacus’s shift toward recurring, fee-related revenue ~ Abacus Global Management, Inc. (“Abacus” or the “Company”) (NYSE: ABX), a financial services company specializing in alternative asset management, with a focus on longevity-based assets and personalized financial planning, today announced the closing of a dual-tranche securitization collateralized by a diversified portfolio of life insurance policies. The total structure is valued at over $400 million including the Class A and Class B notes and the residual interest. The notes have received an investment-grade rating from a third-party rating agency. The offering was oversubscribed and was upsized in response to investor demand. Abacus expects to use the net proceeds from the transaction to support continued poli
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