UK-headquartered money transfer Fintech firm Paysend has reportedly acquired $25 million in follow-on investments from Claret Capital Partners. Established back in 2017, Paysend currently serves over 12 million customers and enables cross-border transactions in over 170 countries.
Claret had first invested in the Fintech firm back in 2020 and said that it is now injecting another $25 million in capital into the business in order to back the development of its cross-border platform, enable global expansion efforts, and the introduction of more products.
In the coming decades, the global payments market is projected to grow by several orders of magnitude due to the ongoing digital transformation of financial services and other related sectors. With this in mind, Fintechs are preparing for a future where sending payments is as simple and frictionless as sending text messages or transmitting other types of data across borders.
George Morgan, senior associate, Claret Capital Partners, said that they are eager to continue supporting the Fintech payments focused business as it scales operations internationally and expands its product offering.
During the past 5-8 years, the global payments ecosystem has grown considerably. Many new products, now supported with more progressive regulations in the UK, EU, and the United States, have been launched including those that leverage stablecoins to support more frictionless cross-border transfers. The modern consumer and businesses are looking for cheaper and faster ways to transact.
Fintech platforms are now disrupting the traditional financial services sector. Larger banks and other incumbents need to figure out how to keep up with the fast pace of innovation and product development.
In addition to advancements leveraging stablecoins, certain countries like China have launched their own central bank digital currencies (CBDCs). There are also several pilots in the Southeast Asia region that leverage CBDCs to complete transactions between different governmental entities.
As we enter Q2 2026, we can expect more Fintechs to focus on enabling efficient payments for individuals and businesses. Payment cards are also another area of constant innovation with consumers increasingly looking for more incentives and benefits.