TransferGo, one of the world’s fastest growing money transfer companies, has announced the hire of Mantas Žalneravičius as its new chief technology officer.

Based in Lithuania, Žalneravičius has more than 15 years’ experience in steering digital innovation and transformation in the financial services industry.

He joins from Danske Bank, where he was the global head of IT within the payments team, and focused on building instant cross-border payment capabilities with a centralised clearing house in the Nordics.

His immediate priority will be to hire new engineers to work on the scaleup’s innovation roadmap, starting with the development of a bank account and card solution for Ukrainian customers. 

With the Russian invasion of Ukraine disrupting access to traditional financial services, TransferGo says it is doubling down on its values and seeking to develop alternative solutions to address financial exclusion. 

The card is the first of its kind for TransferGo and will eventually be rolled out in other countries.

“It was critical that we appointed a chief technology officer that lives and breathes our values,” said CEO and co-founder Daumantas Dvilinskas. 

“As a company committed to serving the migrant community, it’s our digital proposition that keeps them financially connected and so we must continue to evolve and innovate as their needs change.  

“With experience in marrying technology with customer experience, Mantas is the perfect fit for this role and we’re happy to welcome him as part of the TransferGo team.”

TransferGo aims to make international payments fairer, faster and more cost-effective, boosting local economies and helping to improve standards of living. 

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Headquartered in London, it has further bases in Vilnius, Warsaw, Krakow, Berlin and Istanbul.

Žalneravičius added: “I am proud to be joining a business like TransferGo that is innovating in global payments to help and support those that need it most. 

“I’m excited to use my skills and experience to make money transfers fairer for migrants, and to work with the diverse and passionate team at TransferGo to deliver impactful financial services.”

In September, the firm raised £37m in a Series C funding round. It has onboarded more than 4m customers and recording more than 15m transactions with $5.5 billion in global remittance flows.