rewrite this title Global Money Transfer Firm Paysend Secures $25 Million in Funding – Finovate

International money transfer company Paysend announced a follow-on investment of $25 million from Claret Capital Partners.

Paysend will use the capital to fuel the continued expansion of its global payments infrastructure and product suite, helping the firm compete with other major money transfer firms including Wise and Revolut.

Founded in 2016, Paysend most recently demoed its technology at FinovateSpring 2018.

UK-based international money transfer company Paysend has raised $25 million in a follow-on investment from Claret Capital Partners. No new valuation information was immediately available; the company reached a valuation of $700 million in 2021 following a Series B-II funding round.

The capital infusion adds to Claret’s 2020 investment in the company and will support Paysend’s continued development of its global payments infrastructure and product suite. The investment will also help the company expand its geographic footprint, launch new products for both its retail and enterprise customers, and position Paysend to compete with rivals including Airwallex and fellow Finovate alums Wise and Revolut.

“Paysend is delighted to work with a strong partner like Claret, who supports our vision to create the world’s largest cross-border digital network,” Paysend Group CFO Wilhelm Rohde said. “We are scaling rapidly on a global scale and this funding supports us in achieving our ambitions.”

Founded in 2016 by Abdul Abdulkerimov, Ronald Millar, and Alberto Macciani, Paysend made its Finovate debut at FinovateEurope 2016 and returned to the Finovate stage two years later for FinovateSpring 2018. Today, the international money transfer firm operates a digital payment network that connects more than 25 billion endpoints and serves more than 12 million customers around the world. Paysend supports cross-border transactions between 170+ countries, including international money transfers—certified by Mastercard, Visa, and UnionPay—that deliver funds in minutes in more than 95% of cases.

“We’re delighted to continue our partnership with Paysend,” Claret Capital Partners Senior Associate George Morgan said. “The team has built a highly scalable global payments platform and continues to execute strongly against its growth strategy. We are pleased to further support the business as it scales internationally and expands its product offering, building on the progress achieved since our initial investment.”

Paysend’s funding news comes just days after the company announced that its Paysend Enterprise division will support direct payouts into China via Alipay and WeChat Pay wallets. The move will help international businesses navigate a range of complex regulatory and settlement challenges when sending funds into China. Now, with a single API integration, Paysend Enterprise clients will secure access to global pay-to-card coverage, local pay-to-account rails across major markets, SWIFT capability for higher-value international transfers, and direct wallet payouts into China.

“China is a strategically important corridor for cross-border commerce, but it requires local expertise and infrastructure depth,” Paysend CEO Ben Chisell said. “By combining direct wallet access with broader global payout capabilities, Paysend Enterprise gives partners the flexibility to choose the right rail for each transaction—all within one scalable platform.”

Photo by NastyaSensei

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