Following this announcement, Paysend is expected to continue its development process and overall growth journey, while keeping its focus on providing customers with secure and efficient tools that meet their needs, preferences, and demands. In addition, the company aims to further improve and develop cross-border solutions for partners and clients in order to simplify the process of transferring money across multiple regions around the world.
The funding round included a strategic investment from Mastercard, as well as Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund.
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The UK-based fintech company Paysend represents a global payment ecosystem that provides its clients and users with a comprehensive range of payment methods and offerings. The firm had multiple partnerships and launches in the last couple of months, covering several different geographic areas around the world.
In November of 2023, Paysend announced the implementation of a solution from CalQRisk in order to augment and automate their approach to enterprise risk management and prevention. Following this partnership, Paysent was set to utilise the CalQRisk product to approach their risk framework across the globe.
According to the press release published at the time, officials from the company mentioned that the process of rolling out the CalQRisk tool brought it a lot of benefits and the possibility to streamline their existing approach to risk management, save time, as well as save resources.
Earlier in October 2023, Paysend announced its collaboration with Western Union in order to add an additional direct to card payout option for the latter’s customers and clients. Throughout this strategic deal, the companies aimed to facilitate secure and efficient cross-border money transfers, as the integration with Western Union was expected to enable users to send funds through its branded digital solution directly and securely to Visa and Mastercard debit cards.
At the same time, Paysend was expected to continue its mission to simplify money transfers for customers and individuals around the world. At the moment of the press release, both organisations initiated a pilot programme which was developed to give users the opportunity to send funds from the US and the UK to Pakistan, Spain, and the UK. Following this launch, Paysend and Wester Union also aimed to expand their services to additional countries in the near future.
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