TransferMate, a subsidiary of CluneTech, is a 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 is on a mission to simplify, digitalize and automate the manual tasks involved in paying and getting paid.
TransferMate was launched in 2008 by Terry Clune and Barry Dowling. The company is headquartered in Kilkenny, Ireland, with offices in San Francisco, New York and Sydney.
TransferMate allows businesses and individuals to make cross-border payments in more than 201 countries and 141 currencies, with transparency of the transaction through to the point of final reconciliation.
TransferMate has created integrations for banks like ING and AIB, who are also investors. The API solution allows partners to digitalise the payments flow within their software, enabling all businesses to achieve time and financial savings.
TransferMate’s technology has been incorporated in to other financial systems such as QuickBooks, SAP Concur and Tradeshift. Its clients also include Airbus, Harvard University and RSM International.
TransferMate is backed by ING, AIB, RPMI Railpen, and others. The company raised $70M in a Series C round on May 23, 2022. This brings TransferMate's total funding to $129.8M to date. The latest round mints TransferMate a unicorn with a valuation of $1B post-money.