Online payments co Payoneer raises $50m

dollars  picture: Thinkstock

The company strives to transform the way businesses send and receive cross-border payments.

Online payments company Payoneer has closed a $50 million Series E financing round led by Wellington Management Company and with the participation of existing shareholder Susquehanna Growth Equity, LLC. The shares were purchased from existing investors. Existing Payoneer investors include Carmel Ventures, Greylock Partners, Nyca Partners and Ping An Group and although shares were purchased from existing investors, all major shareholders in Payoneer retained the majority of their holdings.

Founded in Israel in 2005, the company strives to transform the way businesses send and receive cross-border payments. With 500 employees worldwide, the company is today headquartered in New York with its R&D center in Tel Aviv.

Payoneer CEO Scott Galit said, “We have seen strong interest by many top-tier investors who believe in our vision to transform cross-border commerce by connecting businesses worldwide on an innovative financial platform. Equally satisfying is that Susquehanna Growth Equity, which has been represented on our board for over a year, increased its holdings based on its conviction that Payoneer enables digital companies in many of today’s fastest-growing segments, including e-commerce and the sharing economy, to accelerate their global business expansion.”

Susquehanna Growth Equity managing director and Payoneer board member Amir Goldman said, “Payoneer continues to show tremendous momentum and revenue growth. Payoneer has established a unique global brand and is trusted by businesses worldwide that rely on Payoneer to send and receive billions of dollars across borders each year."

Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

dollars  picture: Thinkstock
dollars picture: Thinkstock
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