TransferGo picks Danske Bank tech chief as new CTO

Money transfer group TransferGo has appointed Mantas Žalneravičius as its new chief technology officer, replacing Edgardo Savoy who’s been in the role since 2020.

Žalneravičius joins from Danske Bank where he served as global head of IT within the bank’s payments team, focusing on cross-border payments.

For TransferGo the new CTO will be tasked with developing the fintech’s innovation roadmap, and in particular developing a bank account and card solution for Ukrainian customers.

According to TransferGo, Ukraine poses a unique challenge and opportunity for financial services, with it aiming to develop a “first of its kind” solution for the company that will eventually be rolled out to other markets.

“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.”

Last September TransferGo raised $50m in a Series C funding round, led by Elbrus Capital Fund III and Black River Ventures, in order to scale up across Europe.

TransferGo now has offices in London, Vilnius, Warsaw, Krakow, Berlin and Istanbul, and part of Žalneravičius’s focus will be on further growing the group’s technology team.