Daumantas Dvilinskas, CEO & Co-Founder of TransferGo: $125 Million Raised to Build the Future of Cross-Border Payments

Shownotes & Key topics discussed:

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Daumantas Dvilinskas, CEO & Co-Founder of TransferGo, a money transfer platform that has raised over $125 Million in funding.

Here are the most interesting points from our conversation:

• Long-term Focus: TransferGo's 12-year journey has been defined by a commitment to solving the complexities of cross-border payments, a challenge that Daumantas recognized as a young entrepreneur.
• Innovation Through Partnership: The company's success lies in building a "network of networks," partnering with local financial institutions to bypass traditional international settlement systems like SWIFT.
• Regulatory Hurdles: Navigating regulatory landscapes and securing necessary licenses was a significant early challenge, especially when dealing with banks that were hesitant to work with a new and unproven company.
• Community Trust: TransferGo's marketing strategy focuses on building trust within migrant communities, emphasizing referral-based growth and strong brand credibility.
• Strategic Market Entry: The company's early entry into emerging markets like Ukraine, driven by a gut feeling rather than existing data, has paid off significantly, making it the largest digital money transfer service in the region.
• Expansion Lessons: Daumantas reflected on the challenges of segment expansion, particularly into business clients, which required a different organizational culture and strategy than consumer-focused efforts.

 

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