Payment Company TransFi Gets $19M to Help People Send Money Worldwide

A company that helps people send money across borders just got a big boost. TransFi raised $19.2 million from investors to grow its payment service around the world.

### What Does TransFi Do?

TransFi uses something called stablecoins (digital dollars that keep their value steady, unlike Bitcoin) to help people and businesses send money internationally. Think of it like Venmo or PayPal, but for sending money between different countries.

The traditional way of sending money abroad through banks can be slow and expensive. TransFi's system aims to make it faster and cheaper, especially for people in developing countries.

### Where the Money Goes

The company plans to use this new funding to: • Expand to new regions: Southeast Asia, South Asia, Middle East, Latin America, and Africa • Get more licenses to operate legally in different countries • Attract more business customers

### Impressive Growth

TransFi is already showing strong results: • 2 million people use their service • Operating in over 70 countries • Supports 40+ regular currencies and 100+ cryptocurrencies • Revenue grew 16 times since 2024 • Expected to process $5 billion worth of transactions this year

### Why This Matters

For millions of people who work abroad and send money home to their families, services like TransFi could mean lower fees and faster transfers. Instead of waiting days and paying high bank fees, they can send money almost instantly at a fraction of the cost.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/394045/transfi-raises-19-million?utm_source=rss&utm_medium=rss