TelevisaUnivision, the leading media company in the Spanish-speaking world, has signed a $30 million media-for-equity agreement with Paysend, a global payments platform. The deal will see TelevisaUnivision provide advertising and promotional support to Paysend in exchange for an equity stake in the company.
The agreement is part of TelevisaUnivision’s strategy to expand its digital offerings and reach new audiences. Paysend, which operates in over 70 countries, will benefit from TelevisaUnivision’s extensive media network and expertise in reaching Hispanic audiences.
“We are excited to partner with Paysend and help them grow their business in the Spanish-speaking world,” said Isaac Lee, Chief Content Officer of TelevisaUnivision. “This agreement is a testament to our commitment to innovation and our belief in the power of digital media to connect people and businesses around the world.”
For Paysend, the deal represents a significant opportunity to increase its brand awareness and customer base. The company, which offers low-cost international money transfers and other financial services, has seen rapid growth in recent years as more people turn to digital payments.
“We are thrilled to partner with TelevisaUnivision and tap into their vast media network,” said Ronald Millar, CEO of Paysend. “This agreement will help us reach new audiences and accelerate our growth as we continue to expand our services around the world.”
The media-for-equity model has become increasingly popular in recent years as companies look for new ways to fund their growth. Under this model, companies provide advertising or promotional support in exchange for an equity stake in the partner company.
For TelevisaUnivision, the Paysend deal is just the latest in a series of strategic partnerships aimed at expanding its digital offerings. The company recently launched PrendeTV, a free streaming service for Hispanic audiences in the US, and has invested in several other digital media companies.
As for Paysend, the company plans to use the funding from the TelevisaUnivision deal to further expand its services and reach new markets. With the global payments industry expected to continue growing in the coming years, Paysend is well-positioned to capitalize on this trend and become a major player in the space.
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