Today, we are happy to announce that we are partnering up with the founders of TransferGalaxy. We are backing the team’s vision of building a global mobile money transfer service by leading their latest investment round of SEK 30 million.
Vivalla (Örebro) based TransferGalaxy was founded by Yosef Mohamed, Khalid Qassim and Ali Mohamed who have developed a fast, safe and less costly way to send money to other countries digitally and to recipients without a traditional bank account. Transfer Galaxy is entering a market which is currently dominated by incumbents with services that have seen very little improvement and innovation. TransferGalaxy does not only help their customers to save time and money, they will also be able to contribute to fighting corruption and to making financial aid more efficient. The investment, which is pending regulatory approval from Finansinspektionen (Swedish FSA), is going to be used to accelerate the company’s European expansion. We are really excited about the future together with the team at TransferGalaxy and look forward to contributing to their future growth together with existing investor BackingMinds. Best wishes, the A&D team
