PayTech

Paysend Secures $4.2m Crowdfunding for Global Expansion

Paysend

International fintech start-up, Paysend, hit 100% of its funding target in less than three days during its first crowdfunding campaign, while announcing its worldwide coverage by adding six new countries to its network.

Officially started on 6 June 2019 as a private launch for pre-registered customers, the company has already managed to secure the amount of £4.2 million needed for its global expansion and innovation plans.

The round was led by prominent venture capitalists Plug & Play, Digital Space Ventures and Marcorp Fintech. These institutional investors have already backed Paypal, Revolut, N26 and Tandem in previous funding rounds.

Paysend’s CEO Ronald Miller said, “We are happy to announce that Paysend’s first crowdfunding campaign on Seedrs.com has proven a huge success, hitting 100% of the target in less than 72 hours.”

Millar, joined the discussion on the campaign’s page, providing information and answering questions from the investors in real time.

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Investors who have already joined the campaign will gain exclusive access to privileged company information and benefits, as well as a special charge free investor card.

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 utilised.

Another part of the funding will be used for the global launch of Paysend’s latest product innovation: the Paysend Global Account, which will officially launch to the general public by July 2019.