Paysend secures $25M follow-on funding
London-based fintech Paysend has raised $25 million in follow-on funding from Claret Capital, strengthening its balance sheet as it pushes to expand its cross-border payments network across 170 countries. The financing comes as competition intensifies among digital payments players seeking to capture share in a market estimated at $238 billion.
Scaling a global payments network
Paysend said the new capital will support broader network expansion and continued development of its international money transfer capabilities. Cross-border payments providers have been investing heavily in geographic coverage, payout rails, and faster settlement as consumers and businesses demand lower fees and more transparent exchange rates.
Competitive pressure from major fintech rivals
The follow-on round lands amid a crowded field led by rivals including Wise, Airwallex, and Revolut. These firms have been racing to add corridors, deepen local banking partnerships, and bundle services such as multi-currency accounts and business payments to increase customer retention and transaction volumes.
Why funding matters now
As pricing pressure rises, access to growth capital can be a differentiator—enabling providers to invest in compliance, fraud prevention, and infrastructure while pursuing new markets. For Paysend, the additional funding from Claret Capital signals investor confidence in the company’s ability to scale in a sector where network reach and reliability are critical.
The company did not disclose further terms of the financing. Industry watchers will be looking for updates on corridor expansion, product enhancements, and partnership activity as Paysend seeks to defend and grow its position in global money movement.
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