Paysend secures £88m Series B funding led by One Peak to scale its global payments platform
The Series B round was led by One Peak to support international expansion and product innovation.
Paysend operates a vertically integrated global payments platform that connects consumers and small businesses for cross border transfers. The company provides card to card services and multi currency accounts to simplify international transactions.
London based international payments platform Paysend has secured £88m in Series B funding to accelerate its global expansion and product development. The investment was led by One Peak, with participation from Infravia Growth Capital, Hermes GPE Innovation Fund, and existing investor Plug and Play.
Founded in 2017, the company provides a vertically integrated end to end payments infrastructure that bypasses traditional intermediaries. The fresh capital will be deployed to scale operations and extend its reach across international markets, targeting the large cross border payments sector.
The round follows rapid adoption of the company's card to card transfer services among consumers and small businesses globally. Management intends to use the proceeds to support further growth and enhance its multi currency financial services offering.
From the founder
"Paysend’s vision is to develop the next generation integrated global payment ecosystem for consumers and SMEs. Our innovative technology is connecting 12bn 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."
Ronnie Millar
CEO at Paysend
Investor perspective
"We are excited by Paysend’s enormous growth potential in a massive market, benefiting from a rapid acceleration in the adoption of digital payments. 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"
Humbert de Liedekerke
Managing Partner, One Peak
Use of funds
- 01Expand into international markets
- 02Continue product development