Fintech co Payoneer raises $25m

Susquehanna Growth Equity led the round.

Belying reports that it was planning an IPO, online payments services provider Payoneer Inc. has announced that it has raised $25 million in its fourth financing round. Susquehanna Growth Equity, the private equity arm of Susquehanna International Group LLC, led the round. The company's current investors also participated in the round: Carmel Ventures, Greylock Partners, and Vintage Investment Partners. Including the current round, the company has raised $48 million.

Payoneer was founded by president Yuval Tal in 2005. It operates in one of high-tech's growing sectors: financial technology, or Fintech. The company's platform allows secure online payments, including by credit and debit cards, electronic wallet mechanisms, and bank transfers. The company's system enables the rapid and efficient - and just as important, cheap - transfer of money between companies and employees, including in distant countries.

Published by Globes [online], Israel business news - www.globes-online.com - on March 5, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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