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TransferTo Adds Digital Wallet to Payments Network via Cellum Partnership

Courtesy of a new strategic partnership, European mobile wallet provider Cellum will provide its international money transfer services by way of TransferTo’s cross-border mobile payments network. “Cellum is always looking at ways to expand its portfolio with meaningful services that allow us to offer even more value to our partners,” Cellum CEO János Kóka said. “Our strategic partnership with TransferTo strengthens our position as the one-stop mobile wallet provider of choice in Southeast Asia and beyond.”

“We are happy to collaborate with Cellum and open the doors for their partners to reach our global network, and look forward to the opportunity of expansion by adding further digital wallet providers,” TransferTo CEO Peter De Caluwe added.

Founded in 2006, TransferTo enables FIs and digital financial service providers around the world to offer international mobile airtime top-ups and money transfers to and from emerging countries. TransferTo’s real-time network reaches more than 135 countries, connecting mobile money operators, wallet providers, and money transfer operators with banks, FIs, NGOs, and e-commerce merchants.

The company demonstrated its Mobile Money Hub at FinovateFall 2015. Last month, TransferTo and banking software provider Fern Software were awarded a grant from the United Nations Capital Development Shaping Inclusive Finance Transformation (SHIFT) Challenge Fund. The goal of the fund is to use remittances to improve the financial lives of women in Cambodia, Lao PDR, Myanmar, and Vietnam. Also in November, TransferTo announced the hire of a new VP for Business Development, Djibril Diallo, to lead operations in West and Central Africa, and added a new Chief Financial Officer, Dan Gardner, who is a former executive at Transfast and Payscout.

This fall, TransferTo reported 8x revenue growth in international money transfer transactions over the past six months with more than six million transactions. The company partnered with South East Asia’s leading mobile ride-hailing platform, Grab, to facilitate real-time earnings payouts for Grab drivers, and teamed up with IN Switch to support international money transfer services in Latin America.

TransferTo has raised $6.5 million in funding and includes STC Ventures and Ingenico Healthcare/e-ID among its investors. Peter De Caluwe, the company’s current CEO, joined the company in May as global Chief Operating Officer and was promoted to chief executive in August when TransferTo founder Eric Barbier transitioned to the role of President and board member. The company is headquartered in Singapore with offices in Dubai, London, and Miami.