Paysend officially started on Thursday 6 June as a private launch for pre-registered customers, the company has already managed to secure the amount of GBP 4.2 million needed for its global expansion and innovation plans.
Investors who have already joined the campaign will gain exclusive access to company information and benefits, as well as a special charge free investor card.
The round was led by VC’s Plug & Play, Digital Space Ventures and Marcorp Fintech. These institutional investors have already backed Paypal, Revolut, N26 and Tandem in previous funding rounds.
Paysend is already operating in more than 70 countries and is planning further international expansion through partnerships with financial institutions around the world. This requires expansion capital and marketing investment, for which the fundraising will be used.
Another part of the funding will also be used for the global launch of Paysend’s latest product: the Paysend Global Account, which will officially launch to the general public by July 2019. A Global current account with a multi-currency wallet that will allow customers to pay in local currency wherever they are, avoiding extra charges and complexity.
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