Paysend secures $65m in funding from Mastercard and others


Fintech Paysend has managed to raise a total of $65m with some help from Mastercard as part of its latest funding round. 

The fintech firm recently partnered with Mastercard to strengthen its Open Payments Network and cross-border payments offering for SMEs. 

Paysend later struck another deal with Spanish language media company TelevisaUnivision, focusing on its expansion into the US and Latin America through the use of prominent advertising strategies over the next three years. 

Other notable funding for the company was secured by existing investors such as Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund, who remain committed to Paysend’s growth. 

Ronnie Millar, Co-Founder and CEO of Paysend, commented: “This significant investment is a testament to the strength of Paysend’s vision: to build the best-in-class cross-borders solution for businesses and consumers, making money transfer simple for everyone. 

“We are thrilled to welcome our new stakeholders, and we appreciate the unwavering support from our existing investors.”

The latest funding round for Paysend comes soon after it secured another Series B investment that saw around $125m being put into its international expansion strategy. 

Paysend was first introduced to the market in 2017 to try and capitalise on a $133tn global cross-border payments market. Some of the company’s high-profile partners that it managed to sign throughout the years include the above-listed Mastercard, as well as Western Union.