B2B payments infrastructure-as-a-service TransferMate has reached a $1bn valuation after closing a $70m funding round.
The round was backed by UK pension fund Railpen no other investors were named.
TransferMate will use this capital to expand its global teams and further its investment into technology and its product suite.
The FinTech company offers global payment structure that supports 201 countries and 141 currencies.
TransferMate CEO Sinead Fitzmaurice said, ?Since the very beginning we have been on a mission to set new standards in how businesses make and receive international payments.
?Our commitment to deliver real-time transparency and speed when businesses are conducting cross border payments has resulted in TransferMate becoming the global B2B payments infrastructure of choice for the world leading procure-to-pay and spend management platforms.p>
This funding round was managed by Barclays Bank.
With the close of the round, the company has raised a total of $130m. It previously raised ?21m in a funding round in 2018.
Earlier this week, auto loan refinancer Caribou also joined the unicorn club. The company hit a $1.1bn valuation after closing its Series C round on $115m.
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