Category: FinTech
Country: Sweden
Swedish fintech company Transfer Galaxy is returning SEK 25 million to its shareholders after shifting its strategy from aggressive growth to a strong focus on profitability.
The Örebro-based remittance company is paying a special dividend equivalent to almost all of its 2025 net profit, following a year in which its operating result increased sharply despite lower revenue.
Founded more than a decade ago by Yosef Mohamed, Ali Mohamed and Khalid Qassim, Transfer Galaxy was created to simplify international money transfers for immigrants sending money to family members abroad.
Profitability over growth
Transfer Galaxy generated SEK 142 million in revenue in 2025, down from SEK 185 million in 2023. However, the company’s focus on profitability produced a significant improvement in its bottom line.
Operating profit increased by 350%, with the company reporting a profit of SEK 29.8 million for the year.
The resulting SEK 25 million special dividend will therefore distribute almost the entire year’s profit to shareholders.
The company’s largest external investors include Swedish venture capital firms BackingMinds and Alfvén & Didrikson, which invested in Transfer Galaxy in 2016 and 2018 respectively. Co-founder Yosef Mohamed is the company’s third-largest shareholder, according to data cited by Breakit.
Potential exit remains in focus
The dividend comes amid continued speculation about a potential change in Transfer Galaxy’s ownership.
The company reportedly rejected an acquisition offer from a global player last year. At the time, Mohamed acknowledged that the company’s major investors were approaching the end of their investment horizons and were actively evaluating exit opportunities.
Transfer Galaxy has not confirmed that a sale is currently underway.
“We continuously evaluate strategic opportunities that can strengthen our growth and create long-term value for the company and our shareholders,” Mohamed told Breakit, while emphasizing that the company’s immediate focus remains growth and profitability.
A large shareholder distribution can sometimes be associated with companies preparing for a transaction, but Transfer Galaxy says the dividend was made after assessing its capital requirements and will not affect planned growth investments.
Strong start to 2026
Despite the slower revenue growth in 2025, Transfer Galaxy says its performance has accelerated significantly during the first half of 2026.
The company generated more than SEK 31 million in EBITDA during the first six months of 2026, compared with SEK 10 million during the same period in 2025.
Revenue also increased by approximately 40% year over year during the first half of 2026.
According to Mohamed, the results indicate that the company’s business model is scaling and that investments made by Transfer Galaxy are beginning to deliver stronger returns.
Expansion into Canada and new services
Transfer Galaxy is also preparing for further international expansion, with Canada identified as an important market for future growth.
The company says the SEK 25 million dividend will not prevent it from funding its planned expansion.
Beyond international remittances, Transfer Galaxy has expanded its product offering to include airtime, allowing customers to top up mobile phones internationally. The company is also planning to launch eSIM functionality directly through its app.
The combination of improved profitability, renewed revenue growth and international expansion suggests Transfer Galaxy is entering a different phase of its development.
After years of prioritizing growth, the Örebro fintech is now demonstrating that the business can generate substantial cash while continuing to invest in expansion — a potentially attractive position as its major investors consider their longer-term exit options.
Company: Transfer Galaxy
Headquarters: Örebro, Sweden
Sector: FinTech / Remittances
2025 revenue: SEK 142 million
2025 profit: SEK 29.8 million
Special dividend: SEK 25 million
H1 2026 EBITDA: SEK 31+ million
H1 2026 revenue growth: ~40% year over year
Key markets: International / Canada expansion
