May 21

Indonesia’s Transfez Raises Seed Funding to Venture Into B2B Money Remittance Sector

Shagun Karki

Transfez, a B2C cross-border remittance startup based in Indonesia, announced today that it has raised an undisclosed amount of seed capital in a round co-led by East Ventures and Beenext.

The fresh funds will be used for product development and market penetration, as well as to extend its service in the B2B payments sector.

Launched last year, Transfez allows users to transfer money across 50 countries in 26 currencies at a cost that is “up to 10 times cheaper than banks”, with a fully digital process and real-time settlement.

Photo courtesy of Seika.

Source: e27 (link opens in a new window)

Finance, Technology
digital payments, remittances, startups