Send Payments raises $5m AUD in funding and appoints Matt Barr as CEO
August 25, SYDNEY, NSW - Sydney-based cross-border payments provider, Send Payments, has raised $5 million AUD in funding to support its growth objectives and continued development of its product suite.
Send’s enterprise ready platform reduces the barriers and complexity associated with offering global payments as a service. This new funding will fuel the continued development of the platform and its ability to turn cross-border payments into a new revenue stream for Send’s growing network of enterprise partners.
The successful funding round coincides with the appointment of payments industry veteran, Matt Barr, as its new CEO. Matt joins Send with over 25 years' experience leading product development, commercial success and innovation at some of the region's most successful businesses including Australian Payments Plus, eftpos, Mastercard, Telstra and Bank of New Zealand.
Speaking on his appointment, Barr acknowledged the contribution of Co-founder and former CEO Paul Billing who has stepped down from an operational role at the company for personal reasons but remains a big supporter of Send.
Barr said, “The growth Send has experienced to date is nothing short of incredible. I look forward to leading Send through its next phase of growth in collaboration with our board, executive leadership team and the immensely talented team at Send who have made it what it is today.”
Commenting on what drew him to Send, Barr said:
“The cross-border payments landscape is rife with complexity and risk, especially for enterprise businesses looking to embed international payments into their existing offering. Send has managed to simplify the whole process with intuitive, scalable and secure technology solutions that seamlessly integrate into existing systems. Combine those solutions with an unparalleled customer service layer and superior compliance function, it’s no wonder Send has seen such rapid and sustained growth.”
Speaking on the latest funding round, Barr confirmed it was backed by new investors including iPartners, as well existing investors such as Regal Funds Management and Kelly+Partners Investment Office. Both iPartners and Regal Funds Management are known for supporting digital disruptors and high growth businesses.
“It is incredibly encouraging to see continued support from our existing investors and to welcome new investors into the fold. This is firm validation of the strength of Send’s
offering and how we are meeting the needs of enterprise businesses looking to offer cross-border payments to their customers.”
Justin Harsel, Head Portfolio Manager at iPartners, said their investment in Send was driven by the company’s growth potential and its unique ability to blend technological capability with human care.
“Our recent investment in Send is an exciting addition to our Emerging Equity Fund. Send’s ability to provide both enterprise-grade performance and high-touch customer service is unrivalled. We are thrilled to be supporting this raise and look forward to watching the next phase of growth unfold.”
Send is preparing for another year of exponential growth as it continues to expand its enterprise partner network by tailoring its products to the unique needs of different industries including legal, banking and financial services, global mobility, fintech and corporate services.
About Send:
Send are a multi-award winning Australian based, cross-border payments provider. Send partner with businesses of all sizes to streamline cross-border payments, enhance customer satisfaction, and gain a competitive edge in global financial services. Send’s modular API reduces the complexity of cross-border transactions, minimising operational demands and providing enterprise businesses with new revenue streams. Send Payments
