UK fintech Paysend lands $65m in fresh funding round
London-based fintech Paysend, which enables international money transfers for consumers and businesses, has secured $65 million in a new funding round.
Ronnie Millar, co-founder & CEO, Paysend
The round includes strategic investments from brands including Mastercard and TelevisaUnivision, with Paysend’s existing investors, including Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund, also taking part.
As part of its strategic partnership with Mastercard, Paysend will aim to enhance its cross-border payments network for SMEs via its Open Payments Network.
Founded in April 2017, Paysend claims to have a global reach with access to 180 countries, allowing people and businesses to pay and send money online anywhere and in any currency, with more than eight million registered customers on its platform.
It is currently partnered with major international card networks including Mastercard, Visa and China UnionPay, as well as local ACH and payment schemes.
Commenting on the fundraise, Ronnie Millar, co-founder and CEO of Paysend, describes the investment as “a testament to the strength of Paysend’s vision”, which he says is to build “the best-in-class cross-borders solution for businesses and consumers” while also making money transfers “simple for everyone”.
Paysend’s latest funding follows on from its $125 million Series B round, which was led by One Peak and the funds were used towards accelerating the expansion of its platform.
