Paysend, a London, UK-based global payments platform, closed a $20m funding round.
The round was led by MARCorp Financial with participation from other existing investors.
The company intends to use the funds to launch new services for its customer base and to invest in its global expansion plans.
Led by Ronald Millar, CEO, Paysend provides a card-to-card money transfer service that currently connects over 12 billion cards through a proprietary technology platform. It allows users to transfer money to any card across the globe for £1, 1.50€, $2.
All money transfers are certified by Visa, MasterCard, China Union Pay, FCA (Financial Conduct Authority UK) and are PCI DSS certified.