Paysend, the UK-based FinTech with over 6.5 million customers, announced that it has opened its Americas headquarters in Miami. The move embraces Miami’s reputation as America’s new FinTech capital, with a growing community of venture capital and FinTech startup firms flocking to the area to take advantage of proximity to LATAM markets as well as an influx of top entrepreneurial and technology talent.
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Startups in Miami raised a record $4.6 billion in 2021, according to CB Insights’ State of Venture Report, double the capital raised in 2020. Alongside initiatives from policymakers, venture capital firms and financial institutions – like Softbank’s Miami Initiative – Miami is poised to accelerate its reputation as the number one city in America for startup activity.
Abdul Abdulkerimov, Founder and Chairman at Paysend, said: “We see Miami as a strategically important location for Paysend so opening our Americas headquarters in Miami was a logical step for us to take advantage of the leading entrepreneurial ecosystem and dominant talent pool that’s developing there. We recently consolidated our Americas areas – Canada, America and Latin America – into one region and Miami provides the best location to serve our customers in those areas as well as providing a bridge into the Caribbean and Central America.”
Jairo Riveros, Chief Strategy Officer and Managing Director for the USA and LATAM at Paysend, said: “The US and Latin America are home to the largest remittance markets in the world and the ability to build networks and relationships in both North and South America are crucial as Paysend looks to grow our footprint in these major markets. Opening our Americas headquarters in Miami will help us to get closer to our partners and customers, and continue to make digital money transfers more widely available and accessible.”
Trusted by more than 6.5 million consumers in over 150 countries globally, Paysend has grown 14,498% over the past four years and is one of the world’s fastest growing FinTech companies. Recent partnerships with MOVii, a leading mobile wallet service in Colombia, Visa Direct and Mastercard Send® have expanded Paysend’s cross-border money transfer services for US customers, particularly to Latin America.