Paysend, a London-based fintech company specializing in international money transfers for both consumers and businesses, has announced a substantial $65 million funding boost in its latest round.
This round was backed by influential brands, including Mastercard and TelevisaUnivision, and sees continued support from existing investors such as Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund.
A key aspect of this new funding round is Paysend’s strategic partnership with Mastercard, aimed at enhancing its cross-border payments network for small and medium-sized enterprises (SMEs) through its innovative Open Payments Network.
Since its founding in April 2017, Paysend has rapidly expanded its global footprint, offering access to money transfer services in 180 countries.
The platform prides itself on its ability to enable users to pay and send money online across the globe in any currency. Currently, Paysend boasts a robust base of over eight million registered customers.
Paysend’s services are bolstered by partnerships with major international card networks, including Mastercard, Visa, and China UnionPay, and are integrated with local ACH and payment schemes to ensure a seamless transaction experience.
Ronnie Millar, co-founder and CEO of Paysend, expressed his enthusiasm about the latest funding, highlighting it as a testament to the strength of Paysend’s vision. Millar is committed to building a best-in-class cross-border solution for both businesses and consumers, focusing on simplifying the process of money transfers for everyone.
This recent funding follows Paysend’s successful $125 million Series B round, which was led by One Peak. The funds from that round have been instrumental in accelerating the expansion of Paysend’s platform and services, further solidifying its position as a key player in the global fintech and money transfer landscape.
