- Fintech startup will use funds to increase influence around the world
- MARCorp leads investment round
- Over the past few months, Paysend saw new additions to its customer base
Fintech startup Paysend raised $20m in its latest investment round, according to the company’s CEO. Paysend built an international card-to-card payment ecosystem in its bid to make international money transfers simpler and more affordable.
Paysend launched in 2017 and has already put in place an expansion plan that will make the service available globally.
In a statement, Paysend’s CEO Ronald Miller said: “We are delighted to welcome MARCorp onboard and to increase our international investor base alongside the global technology we have built.”
Miller added that he is proud of what the company has achieved. He claimed that Paysend is the sole global card-to-card platform, going on to say that his executive team are the only ones with the operational and technological expertise as well as the creativity and ambition to achieve such a feat.
MARCorp Financial’s Michael Fazio said that the private fund investor decided to invest in Paysend because they generated the “first integrated B2B and B2C global payments business”, and its effects are already rippling through the market, disrupting the status quo.
Fazio, who used to be a senior executive at Houlihan Lokey and Deutsche Bank, added that Paysend’s Global Account, Global Processing and Global Transfers are pioneers and frontrunners in their respective fields.
Fazio also said that the fund investor company has been working with Paysend for more than a year, noting that the management team’s expertise and professionalism is unparalleled in the sector.
He added: “The combination of the best people and best products in the market has enabled Paysend to achieve dramatic growth since its launch, and we are delighted we had the opportunity to increase our investment in the company.”
Apart from the considerable investment from MARCorp Financial, the brand also received much needed support from existing investors.
