Paysend, a London-based company, has raised $25 million in follow-on growth funding from Claret Capital Partners, extending a relationship that began with Claret’s initial investment in October 2020. The capital will fund continued international expansion and new product development on top of Paysend’s payments infrastructure.
Abdul Abdulkerimov and Ronald Millar started Paysend in 2017, and the company has steadily expanded its consumer and business services. In September 2025, Ben Chisell took over as CEO, marking a new chapter for Paysend ahead of this funding round.
This funding round is smaller than some others in the cross-border payments sector. For instance, Airwallex raised $330 million in December 2025, and Wise processed $185 billion in cross-border transactions in FY2025.
Even so, the market is expanding quickly. Mordor Intelligence reports that the cross-border payments market could reach $238 billion in 2026 and grow to $336 billion by 2031. The main drivers are smoother correspondent banking, faster settlements, and fintechs cutting FX spreads by up to 80% compared to traditional banks. There are big opportunities and strong competition in this area.
Unlike Wise, Revolut, Remitly, Airwallex, Payoneer, Stripe, and Nium, Paysend is focusing on the number of endpoints it can reach and how well its network connects with others, rather than making fee transparency its main selling point.
Paysend puts its payment infrastructure at the centre of its strategy. The company generates over $100 million in annual revenue, serves more than 12 million customers, and connects to more than 25 billion endpoints, including cards, bank accounts, wallets, and smartphones, across 170 countries. Its platform works with Mastercard, Visa, China UnionPay, local card networks, instant payment systems, and local ACH rails, making its network difficult to match quickly.
The $25 million does not put Paysend on the same funding level as its larger competitors. However, it gives the company the resources to continue expanding its enterprise business, especially as cross-border payment infrastructure becomes increasingly important for companies beyond the fintech sector.
