Deloitte Legal has advised Elbrus Capital Fund III on its investment into TransferGo during the USD 50 million series C funding round.
TransferGo is a money transfer service with 3.5 million customers. The Elbrus Capital Funds are private equity funds focused on investments in Russia and the CIS. Black River Ventures is focused on innovative companies at the growth and later stages across the European and US technology space, with a particular interest in Financial Services, Data Analytics/AI, Software/Services, and IoT.
According to Deloitte, “this latest fundraise, led by Elbrus Capital Fund III and Black River Ventures, follows [a] consistent 80% year-on-year growth for the fintech company since its launch, and brings the total raised to-date for TransferGo to USD 77 million. The round also includes funding from new investor Unlimint, and continued backing from existing investors that include Hard Yaka, VEF, SmartHub, and Milano Investments.” According to the firm, “the funding will be used to help expand TransferGo’s customer base, helping more migrants send and receive money across Europe, and develop its product offering in support of its ambitious goal to grow five times in the next 3-4 years.”
Deloitte Legal’s team in Lithuania included Partner Tomas Davidonis, Managing Associate Tomas Mieliauskas, and Lawyers Gintare Stoniene, Ieva Bindokaite, Agne Vanagiene, Stela Andriuskaite, Ginte Simkeviciute, Greta Lebednykaite, and Urte Grigaityte. In Russia, the team consisted of Lawyers Nikita Korobeinikov, Ildar Zverev, and Ruslan Makhmudov.