Key Takeaways
- • Paysend secures $25 million in follow-on funding from long-term investor Claret Capital Partners, expanding its cross-border payment infrastructure capabilities across 170+ countries and 10 million active users.
- • Claret Capital Partners has now committed $45 million total to Paysend since 2020, including a $20 million loan facility provided in January 2023 to support open payments system development.
- • The capital injection is earmarked for international expansion and new product development, reinforcing Paysend's position as a payments network infrastructure provider for individuals and businesses conducting cross-border transactions.
- • Paysend Enterprise recently strengthened its China footprint by integrating local payment methods including Alipay and WeChat Pay, demonstrating strategic geographic diversification alongside this funding round.
- • The company claims connectivity to over 20 billion payment endpoints globally, positioning it as a critical infrastructure player in the fragmented cross-border payments market.
Summary
Paysend, a UK-based cross-border payments infrastructure provider, has raised $25 million in follow-on capital from Claret Capital Partners, a long-term investor in the company since 2020. This funding round represents a continuation of the investor's commitment to the fintech platform, which has already extended a $20 million loan facility to Paysend in January 2023 to support the development of an open payments system designed to orchestrate end-to-end payment flows between instant payment schemes.
The company, established in 2017, operates as a payments network infrastructure provider connecting individuals and businesses to cross-border money transfer solutions. Paysend maintains a user base exceeding 10 million accounts with network reach spanning more than 170 countries. According to the company's assertions, its infrastructure connects over 20 billion payment endpoints globally, providing comprehensive cross-border solutions to a broad customer base.
Claret Capital Partners indicated that the new capital will "support the continued development and scaling of Paysend's proprietary platform, enabling further international expansion and the launch of new products and capabilities built on its core technology." This statement underscores the investor's confidence in the company's technology infrastructure and market positioning within the competitive cross-border payments sector.
The funding announcement arrives shortly after Paysend Enterprise, the company's B2B division, reinforced its strategic presence in China by integrating local payment methods including Alipay and WeChat Pay into its business partner infrastructure. This geographic expansion demonstrates management's commitment to penetrating key emerging markets while leveraging its core payment orchestration technology across diverse payment ecosystems and regulatory jurisdictions.
The company, established in 2017, operates as a payments network infrastructure provider connecting individuals and businesses to cross-border money transfer solutions. Paysend maintains a user base exceeding 10 million accounts with network reach spanning more than 170 countries. According to the company's assertions, its infrastructure connects over 20 billion payment endpoints globally, providing comprehensive cross-border solutions to a broad customer base.
Claret Capital Partners indicated that the new capital will "support the continued development and scaling of Paysend's proprietary platform, enabling further international expansion and the launch of new products and capabilities built on its core technology." This statement underscores the investor's confidence in the company's technology infrastructure and market positioning within the competitive cross-border payments sector.
The funding announcement arrives shortly after Paysend Enterprise, the company's B2B division, reinforced its strategic presence in China by integrating local payment methods including Alipay and WeChat Pay into its business partner infrastructure. This geographic expansion demonstrates management's commitment to penetrating key emerging markets while leveraging its core payment orchestration technology across diverse payment ecosystems and regulatory jurisdictions.
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