Paysend, a global fintech company, recently disclosed a $65 million funding round on Wednesday, November 29. This investment follows Paysend’s recent collaboration with Mastercard to enhance cross-border payments for small to medium-sized enterprises (SMBs) through the Open Payments Network (OPN).
Ronnie Millar, the co-founder and CEO of Paysend, emphasized the significance of this investment, highlighting Paysend’s commitment to developing the premier cross-border payment solution for businesses and consumers. Millar stated, “This significant investment is a testament to the strength of Paysend’s vision: to build the best-in-class cross-borders solution for businesses and consumers, making money transfer simple for everyone.”
In conjunction with the funding, Paysend forged a partnership with TelevisaUnivision, the largest Spanish-language media corporation globally. This collaboration includes Paysend’s advertising presence on TelevisaUnivision’s network for the next three years, with a focus on targeting money-transfer corridors between the USA and Latin America.
Throughout the year, Paysend has actively engaged in various partnerships. Notably, the company collaborated with Western Union to enhance cross-border money transfer services. This partnership, announced in October, aims to streamline consumers’ utilization of Western Union’s digital platform for efficient cross-border money transfers. Additionally, it provides consumers with an added direct-to-card payout option, enabling them to transfer funds directly to Visa and Mastercard debit cards.
Paysend’s commitment to innovation and partnerships underscores its dedication to simplifying global money transfers. By teaming up with industry leaders like Mastercard, Western Union, and now TelevisaUnivision, Paysend continues to expand its reach and enhance its offerings for businesses and consumers alike.
The collaboration with TelevisaUnivision not only extends Paysend’s advertising reach but also strengthens its position in the Latin American market. With a focus on targeting money-transfer corridors between the USA and Latin America, Paysend aims to provide accessible and efficient cross-border payment solutions to a diverse range of customers.
As Paysend navigates through various partnerships and innovations, its overarching goal remains consistent: to make money transfers simple and accessible for everyone, regardless of geographical boundaries or financial background. Through strategic collaborations and investments, Paysend continues to pave the way for seamless cross-border transactions in an increasingly interconnected world.
