User:Tranglo/sandbox
Type of site | Private company |
|---|---|
| Founded | 2008 |
| Headquarters | |
| Area served | Asia Pacific, Canada, Europe, United States, Middle East |
| Founder(s) | Sia Hui Yong |
| CEO | Jacky Lee |
| Key people | Jacky Lee (CEO) Sia Hui Chek (CSO) Teoh Wei Min (CFO) |
| Industry | Financial services |
| Products | Tranglo Connect, Tranglo Business, Tranglo Recharge |
| Services | International Money Transfer, Cross-border Payments, International Airtime Transfer, B2B payments |
| Employees | >200 (2023) |
| URL | www |
Tranglo is a Malaysia-headquartered cross-border payments company. Founded by Sia Hui Yong and 3 other members in 2008, it was launched to provide airtime transfer service and mobile reloads. In 2011, the company launched its B2B remittance solution and expanded worldwide.
The company processes cross-border payments for financial institutions, licensed remittance providers, online payment gateways, network operators, e-commerce players and corporates of all sizes. Its global network spans 100+ countries, 350+ mobile operators, 5,000+ banks/wallets and 140,000 cash pickup points.
The name Tranglo is a portmanteau - from "transfer" and "global".
History
[edit]In 2008, Sia Hui Yong and 3 other founding members developed a cross-border solution to enable seamless airtime transfers after noticing that migrants were buying physical top-ups as gifts and sending them back home to their family. The same year, it established partnerships with Malaysian telcos Digi and Maxis.
In 2009, the company's proprietary airtime transfer solution, Tranglo Recharge, covered all major mobile networks in Asia. This achievement won it the APICTA award.[1] In 2010, Tranglo Recharge had connected over 100 mobile networks worldwide.
In 2011, the company developed another solution, Tranglo Connect, to provide cross-border remittance services to money service businesses and payment providers. It rolled out the first 24/7 money transfer network to all major Indonesian banks the same year.
In 2021, FXC Intelligence named the company one of the top 100 cross-border payment processors in the world.
In 2023, Tranglo was selected as one of the top 30 most promising cross-border payment companies in the world. It helped over 2,000 partners move almost USD 20 billion across 150 countries. The same year, it started Tranglo Business to extend its cross-border transfer service to merchants and non-payment providers.
Investors and funding
[edit]In 2009, Tranglo received a funding of MYR 5 million from MAVCAP, Malaysia's largest venture capital fund, to expand its airtime transfer service.
In 2015, the company received an investment of MYR 54 million from Ekuinas, Malaysia's leading private equity, to enhance its cross-border payment solution and expand into global markets.[2]
In 2018, Ekuinas divested its 60% stake in the company to TNG FinTech Group Inc. for RM114.9 million.
In 2021, Ripple, an enterprise blockchain and crypto solutions company, acquired 40% stake in the company for an undisclosed sum to expand the reach of its suite of payment solutions, including real-time settlement, liquidity management, and access to working capital.[3]
See also
[edit]References
[edit]- ^ TRANGLO. "Malaysia shines at APICTA awards". www.tranglo.com.
- ^ WSJ. "Malaysia State-Run Private Equity Firm Ekuinas Invests in Two Deals".
- ^ Deepti Sri. "Ripple acquires 40 stake in Malaysian cross-border payments firm". Tech in Asia. ISSN 0013-0389.
