Mastercard has made a strategic investment in Paysend as part of a $65 million funding round for the UK-based international money transfer player.
The investment comes on the heels of a deal between Mastercard and Paysend to make cross-border payments simpler for SMEs.
Existing investors, including Infravia Growth Capital, One Peak, and Hermes GPE Innovation Fund, also participated in the funding round.
Paysend also has a deal with TelevisaUnivision, the world’s largest Spanish language media company to target the USA-Latin America money-transfer corridors Paysend's advertising will be featured on TelevisaUnivision's network for the next three years.
Ronnie Millar, CEO, Paysend, says: "This significant investment is a testament to the strength of Paysend's vision: to build the best-in-class cross-borders solution for businesses and consumers, making money transfer simple for everyone."