LONDON, APRIL 21, 2022 – Launched in April 2017 with a vision to change the way that people manage their everyday finances, UK-based FinTech Paysend today celebrates its five-year anniversary.
Reaching this milestone, Paysend’s payments ecosystem is trusted by more than 6.5 million consumers for money transfers to over 150 countries globally as well as a growing network of small and medium-sized businesses who can receive digital payments from all major debit and credit cards in up to 38 currencies through Paysend’s business platform.
Paysend’s journey started with a team of experts from the banking and payments industries who became frustrated by the complex, slow-moving and limiting nature of the traditional payments ecosystem and wanted to create a more equitable and inclusive infrastructure that individuals and businesses could use for money transfer and payments.
Paysend was the first FinTech to introduce global card-to-card transfers and connect 12 billion cards issued by international payment systems such as Mastercard, Visa, China Union Pay and local cards schemes. From its beginnings in London, Paysend has driven expansion through Europe, North America, Latin America and Asia-Pacific, operating virtually and through offices in London, Miami and Singapore, and employing over 600.
In May 2021, Paysend secured US$125 million in a Series B investment round led by One Peak which valued the company at US$700+ million. This investment allowed Paysend to heavily invest in technology, innovation and people in order to expand its global payments network and increase financial inclusion at scale.
“I’m so proud of what Paysend’s people and leadership team have achieved since our inception in 2017,” said Abdul Abdulkerimov, Founder and Chairman at Paysend. “We’ve hit some major milestones over the past five years through our Series B funding round, our customer growth trajectory and the third-party recognition that we’ve received from the likes of Deloitte and Sifted for our growth journey. But this is just the beginning of the story and there are exciting times ahead as we look to further expand our ecosystem of payments and partners, as well as growing our headcount and revenues, and set in motion our ambitious plans in the B2B and enterprise spaces.”
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