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Paysend, the card-to-card pioneer and international payments platform, has reached an important milestone of five million customers, with one and a half million customers joining in the last six months alone.
Founded less than five years ago, this makes Paysend one of the world’s fastest growing FinTechs.
Earlier this year, Paysend announced that it had raised an additional $125 million Series B investment round, which valued the company at $700+ million, and the company was recently ranked the third fastest growing technology company in the UK by Deloitte, thanks to 14,498 per cent growth.
The five million customer milestone follows Paysend’s continued investment in technology, innovation and expansion that is increasing financial inclusion at scale.
In 2021, the company has made significant progress in expanding and enhancing its global payment network with Plaid, Mastercard and Visa, and has significantly increased headcount to over 500 people across the globe, focussed on mobilising key target regions including North America, the Middle East and Asia-Pacific.
Paysend’s next generation payments platform slashes fees by as much as 60%, with instant transfers through the Paysend app; unlocking up to $5.4bn in annual savings for consumers and SMEs by 2025 and saving millions of hours of process administration.
Paysend’s platform is unique, owning the entire payment value chain. It removes the need for third-party acquirers or processors which increase cost and complexity, delivering savings and efficiency for consumers and SMEs.
Paysend’s platform can reduce economic barriers to entry in the payments market by providing immediate access to transfer money to any card holder around the world, connecting 12bn consumers and businesses globally.