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Transferwise competitor fintech OneFor secures £8.55M funding as it expands to the UK

OneFor ceo
Image credits: OneFor

Remittance and payments industry is flourishing in the UK with 9.5 million migrants transferring about £7.58 billion every year. With notable opportunities in the segment, many players are vying to grab a big chunk of the market share. To challenge existing players, Germany-based challenger fintech OneFor has raised a notable £8.55 million in its latest funding round, and is now expanding its services for the UK and all EU countries.

Further expansion ahead

Dutch Private Equity company and Group B.V. invested in OneFor’s latest funding round. In a conversation with UKTN, the startups’ Co-CEO Marco Abele reveals that the company will utilise these fresh funds mainly to acquire and service their customers, and further develop their tech platform. 

Founded in 2020, the fintech startup currently employs 40 people and as per Abele, they will grow their team to about 100 people by the end of 2021. The company will mainly add new roles in its customer service function division. ...

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