Payoneer is a New York-based digital payments platform that enables companies and professionals to send and receive cross-border payments. Founded in 2005 and led by CEO Scott Galit, the company provides services in more than 200 countries. Thousands of corporations, including Amazon, Google, Airbnb, UpWork and Getty Images, use Payoneer’s mass payout services. The company raised a Series E-1 investment from China Broadband Capital to strengthen its global platform. Payoneer said it will use the funds to accelerate investment in its China operations and further bolster its global platform. Backers include Greylock Partners, NYCA Partners, PingAn Ventures, Susquehanna Growth Equity, TCV, Viola Ventures and Wellington Management. Payoneer provides payment processing technologies and local collection capabilities that help businesses trade across borders. The company offers virtual local bank account capabilities and recently launched local bank account services in China for customers without Chinese accounts. Payoneer has expanded internationally this year, opening offices in India, Japan and the Philippines and partnering with marketplaces like Rakuten.com and Linio. It has also launched new billing and escrow services. Payoneer is already profitable and has a solid cash balance, and the new capital will be used to double product development and technical staff. Management positions this financing as likely the company's last round before pursuing an initial public offering. Payoneer operates a cross-border payments platform that connects businesses, professionals, countries and currencies to facilitate global commerce. Founded in 2005 and led by CEO Scott Galit, the company serves business customers with online payment services. It is headquartered in New York and also maintains offices in Silicon Valley, Europe and Asia. Payoneer employs more than 500 people globally. The company intends to use recent funding to accelerate its global expansion efforts. Payoneer provides a global payment platform that connects thousands of businesses with millions of trading partners and professionals, enabling transfers to over 200 countries and territories. Its payout options include local bank transfers, prepaid debit cards, international wire transfers and local eWallets. The company positions itself as a technology-driven solution to remove limitations on cross-border commerce and to make international payments as simple as local ones. Payoneer says it is venture-backed and profitable and is ranked in the top 100 of the Inc. 500 Financial Service companies. The firm has attracted top industry leaders and investors, reflecting its focus on compliance, user experience and scalable payment infrastructure. Payoneer operates a global payments platform that connects thousands of businesses with millions of trading partners and professionals worldwide. It enables companies to send payments to over 200 countries and territories and offers payout options including transfers to local banks, prepaid debit cards, international wire transfers and local eWallets. The company serves marketplaces, ecommerce platforms, technology companies, professionals and small business owners, aiming to remove limitations that impede cross-border commerce. Payoneer emphasizes secure, cost-effective and compliant transactions. It is described in the article as venture-backed and profitable and is ranked in the top 100 of the Inc. 500 Financial Service companies. The company plans to expand international fund transfer for businesses and deepen its presence in China through partnerships.

Total raised

$267M

Funding rounds

8

Latest round

Equity

Latest activity

Oct 2016