Paysend has raised $13.0M in total across 1 funding round.
Paysend's investors include GoAhead Ventures, Maven Capital Partners, Hippolyte Genet.
Paysend is a UK-based fintech company founded in 2017 that builds a global cross-border digital payments network, enabling consumers and businesses to send, receive, hold, and convert money instantly across borders in any currency via cards, bank accounts, wallets, and smartphones.[1][2][3] It serves over 11 million consumers and a growing base of enterprise clients, including leaders in money movement and payroll, generating over $100 million in annual revenue while connecting to 25 billion endpoints in 170+ countries.[1][2] Paysend solves the problem of slow, expensive, and inaccessible international transfers by offering faster, cheaper alternatives through card-to-card innovation and seamless interoperability with networks like Mastercard, Visa, and China UnionPay, all regulated by the UK's Financial Conduct Authority.[1][3][6]
The platform powers both direct consumer apps for quick remittances—such as students or workers abroad—and B2B solutions for SMEs, merchants, and platforms, supporting over 40 payment methods and reducing costs via proprietary technology.[3][4][5] Recent growth includes recognition as a Top 100 Cross-Border Payment Company in 2025 and products like Paysend Libre for digital remittances.[1]
Paysend was founded in 2017 in the UK by serial entrepreneurs Abdul Abdulkerimov and Ronnie Millar, who pioneered card-to-card cross-border transfers as one of the first fintechs to link international card networks globally.[1][3][6] Abdulkerimov, the key founder figure, envisioned simplifying money movement for ordinary people by making it instant, inclusive, low-cost, and barrier-free, starting with a consumer app for bank card or mobile-based transfers.[6][8] The idea emerged from recognizing pain points in traditional remittances, targeting users like overseas students and workers needing quick, affordable sends across borders.[8]
Early traction was rapid: within two years, Paysend hit one million customers across 70+ countries, expanding from card-to-card basics to a full payments ecosystem.[8] A pivotal moment came in May 2021 with acquisition by InfraVia Capital, fueling growth from 4 million users and 17,000 SMEs in 2020 to over 11 million consumers today, with offices in London, Belgrade, Dublin, and Miami.[1][3] This evolution shifted it from a startup disruptor to a regulated leader serving 170+ countries.[2]
Paysend stands out in cross-border payments through these key strengths:
Paysend rides the global remittance boom and real-time payments trend, where cross-border volumes exceed trillions annually amid rising migration, e-commerce, and payroll globalization—addressing a $400 billion trapped liquidity gap.[1][2][4] Timing is ideal post-2021 acquisition, aligning with instant payment systems (e.g., local ACH) and open banking, amplified by partnerships with Visa/Mastercard for network effects in emerging markets.[1][6]
Market forces like regulatory easing (FCA oversight) and competition from Nium/Airwallex favor Paysend's endpoint scale and card focus, influencing the ecosystem by democratizing access for underserved users/SMEs and pushing incumbents toward digital interoperability.[4][6] As a bridge between legacy cards and modern wallets, it accelerates fintech inclusivity in 170+ countries.
Paysend is poised to dominate as the world's largest open cross-border network, with next steps including Instant Settlement Accounts for liquidity efficiency and expanded B2B payroll/enterprise tools amid $100M+ revenue momentum.[1][2] Trends like AI-driven fraud prevention, CBDCs, and deeper emerging-market penetration will shape its path, potentially doubling users via 25B+ endpoints.
Its influence may evolve from remittance pioneer to full payments infrastructure, powering platforms globally—reinforcing the original mission to simplify money movement for all, faster and cheaper than ever.[1][6]
Paysend has raised $13.0M across 1 funding round. Most recently, it raised $13.0M Series B in July 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2019 | $13.0M Series B | GoAhead Ventures, Maven Capital Partners, Hippolyte Genet |
