Payments startup Paysend completes GBP 8.5 mln Series B

GVA invested GBP 3.95 million into the international money transfer company, and Seedrs raised GBP 4.6 million.

Proceeds from the fundraise will be used to support the global rollout for the business.

During the campaign, Paysend also announced the launch of its global digital currency, Pays XDR. Pays XDR is a digital currency backed by a basket of five fiat currencies: USD, EUR, GBP, JPY, CNY.

Reserves are matched in the exact proportion of the International Monetary Fund’s special drawing rights (SDR). Pays XDR will be available via the Global Account and a Pays XDR wallet. The reserves supporting the currency will be independently audited and openly published