„TransferGo“raised a record investment of $2.5 million


TRINITI LT team advised a start-up providing financial services – „TransferGo“ – in attracting international investments of $2.5 million (2.3 mln. EUR). This is the largest investment provided for a start-up registered in Lithuania in the financial field.

The investors were private individuals and funds from three continents: Europe, North America and Africa. Among the investors were Mark Ransford, former investor at Apax Partners; Voria Fattahi, former investor at Kinnevik; Clive Kahn, former CEO of Travelex; Richard Tudor, former partner at Exponent; and a Lithuaninan investment fund “Practica Capital” (VC).

Today “TransferGo” provides money transfer services in over 40 countries all over the world including Europe, USA, Australia, Africa and others.

Stakeholders of the fast growing firm were seeking to attract investments from world known investors for the further development of the company.

TRINITI team worked in cooperation with the lawyers from the UK and provided legal assistance to the company GoSystems and TransferGo Holdings Limited. The team  advised the company on attracting foreign investments in the most effective way, drafted all necessary documents according to the Lithuanian and English law also negotiated with the Lithuanian investors regarding the conversion of convertible loans and convertible bonds to GoSystems shares. The team represented the client in increasing the authorised capital and, together with the lawyers from the UK, prepared the main investment agreement regarding the 2,5 mln. USD investment attraction into  GoSystems and TransferGo Holdings Limited and regarding the swop of the shares (so called flip.)

This was a complicated transaction due to its complexity as well as to different legal requirements under the law of Lithuania and  the UK. Moreover, the transaction documents needed to be signed in different countries of Africa, Europe and the United States so it was complicated to negotiate the content of different documents, the signing and legal legalization of the documents as well as the notarial confirmation of a part of the documents in Lithuania.

The team of TRINITI lawyers included Sonata Krasauskienė and Ieva Strunkienė and was led by the managing partner Linas Sabaliauskas.