Fintech Paysend has quickly topped its £4.2 million target for a crowdfunding round on Seedrs. Launched on June 6, Paysend benefited from a private offering for pre-registered customers. To date, 217 investors have participated in the round which remains open on Seedrs.
The round was led by VC’s Plug & Play, Digital Space Ventures, and Marcorp Fintech. The deal was for a 3.3% equity stake in the company with a pre-money valuation of £124.9 million.
Paysend is a payment and transfer Fintech that currently operates in over 70 different countries.
The additional funding will be utilized for its expansion plans which include partnerships with financial institutions around the world.
Paysend expects to launch “the Paysend Global Account,” to the public by July 2019. This will be a global current account with a multi-currency wallet that will allow customers to pay in local currency wherever they are, avoiding extra charges and complexity therefore truly building money for the future. Paysend plans to include a stablecoin issued on the Stellar blockchain to streamline the payment/transfer process.
Paysend claims to be the first Fintech to introduce a global card to card transfers issued by international payment systems: Mastercard, Visa, China Union Pay and local cards schemes.
Paysend also offers “Paysend Link” a WhatsApp money transfer service.
Today, the company claims more than 750,000 customers. Paysend says they support about 2 million transactions every month.
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