Paysend Raises $20M Led by MARCorp for International Remittances

Paysend closed a $20 million funding round led by MARCorp in early July 2018. The UK-based fintech operates an international money transfer platform that enables card-to-card remittances across more than 60 countries, offering an alternative to traditional wire transfers. Paysend's infrastructure allows consumers and businesses to send money internationally at lower costs by leveraging card network rails rather than correspondent banking.

The funding was earmarked for geographic expansion and technology development. As a payments infrastructure provider, Paysend's model has embedded finance characteristics, enabling platforms and partners to integrate cross-border transfer capabilities. The round was part of a record H1 2018 for global fintech investment, with payments remaining a dominant investment category.