Paysend raises $65m in latest funding round led by Mastercard

By Gloria Methri

Paysend, a global provider of international money transfers, has successfully raised $65 million in its latest funding round. The investment round follows the partnership with Mastercard announced earlier this year, through which Paysend will enhance cross-border payments for SMEs via its Open Payments Network (OPN).

In addition, Paysend has secured a strategic partnership with TelevisaUnivision, the world’s largest Spanish-language media company. This partnership is designed to target the lucrative USA-Latin America money-transfer corridors and will see Paysend’s advertising featured on TelevisaUnivision’s network for the next three years, enhancing its visibility and reach across the Hispanic community in the USA.

Existing investors, including Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund, also participated in the funding round, underscoring their confidence in Paysend’s mission and growth trajectory.

Ronnie Millar, Co-Founder and CEO of Paysend, expressed gratitude for the continued support, stating, “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.”

Paysend’s latest funding round builds upon the success of its previous Series B round, where the company secured $125 million to accelerate the expansion of its global payments platform.

Since its inception in 2017, Paysend has experienced rapid expansion. The company’s integrated cross-border platform for businesses and consumers positions Paysend to capitalize on the $133 trillion market opportunity. Earlier this year, Paysend announced several strategic expansions, including the provision of digital payments for Western Union’s global consumer business.