Paysend, a leading money transfer FinTech, has successfully raised $65 million in a new funding round.
According to PYMNTS, the company, renowned for simplifying global money transfers, has achieved this latest financial milestone amidst a series of strategic partnerships and expansions.
This funding round, announced on November 29, marks a significant leap in Paysend’s journey. The investment is not just a financial boost but a validation of the company’s vision and strategy. The round follows closely on the heels of its recent collaboration with Mastercard, a partnership aiming to enhance cross-border payments for small to medium-sized businesses (SMBs) via the Open Payments Network (OPN).
“Paysend’s mission is clear: to develop a best-in-class cross-border solution for both businesses and consumers, making the process of money transfer straightforward for everyone,” commented Ronnie Millar, co-founder and CEO of Paysend, in a news release.
Furthermore, Paysend announced a vital partnership with TelevisaUnivision, the world’s largest Spanish language media company. This alliance is set to bolster Paysend’s presence in the crucial USA-Latin America money-transfer corridors. Over the next three years, Paysend’s advertising will be featured prominently on TelevisaUnivision’s network, significantly enhancing its market reach.
2023 has been a year of active collaborations for the firm. Alongside the aforementioned partnerships, the company has also joined forces with Western Union to offer enhanced cross-border money transfer services. Announced in October, this collaboration integrates Western Union’s digital platform with the company’s technology, offering a direct-to-card payout option for sending funds to Visa and Mastercard debit cards.
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