Paysend Secures $125 Million to Speed up Its Global Expansion

Fazzaco learned that Paysend, a global FinTech disruptor on a mission to change how money is moved around the world, announced it has raised $125 million in a Series B funding round to speed up the company’s global expansion.

According to the company’s announcement, the funding round was led by One Peak along with participation from Infravia Growth Capital, Hermes GPE and others.

Paysend was founded in London in April 2017 by Abdul Abdulkerimov and now reaches more than 3.7 million consumers, 17,000 small and medium-sized enterprises (SMEs) and 110 receiving countries.

Commenting on the news, Ronnie Millar, CEO of Paysend, said: “Paysend’s vision is to develop the next generation integrated global payment ecosystem for consumers and SMEs. Our innovative technology is connecting 12 billion cards worldwide to pay and send instantly anywhere, anyhow and any currency – we call this Money for the Future. This saves time, saves money and connects millions of people and businesses around the world.”

“There remain significant barriers to entry for consumers and SMEs to pay and send money globally; our platform aims to democratize the service by providing a one-stop-shop to pay and send money to families, suppliers, employees and partners in any currency anywhere in the world at a significantly reduced cost”, he added.

Humbert de Liedekerke, Managing Partner at One Peak Partners commented: “In particular, we are seeing strong opportunities as Paysend moves beyond consumers to serve business customers and expands its international footprint to address a growing need for fast, easy and low-cost cross-border digital payments. Paysend has built an exceptional payment platform by maintaining an unwavering focus on its customers and constantly innovating. We are excited to back the entire Paysend team in their next phase of explosive growth.”