UK-based global payment ecosystem Paysend has opened its US headquarters in Miami, having identified it as a “strategically important location”, given its proximity to Latin America and the Caribbean.
Startups in Miami raised a record $4.6 billion in 2021, and double the capital raised the previous year, according to CB Insights’ ‘State of Venture’ report.
Abdul Abdulkerimov, founder and chairman of 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.”
Paysend, which can send money to more than 150 countries and has grown 14,498% over the past four years, supports cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes.
Jairo Riveros, chief strategy officer and managing director for the US and LatAm at Paysend, added: “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.”
Riveros said that by choosing Miami as its US headquarters, Paysend will be closer to both partners and customers.