Total amount raised
$570 Millions
Latest funding date
6/1/2021
Location
Payoneer has successfully raised significant funding through multiple rounds, including a notable Post-IPO Equity round. The company is backed by a diverse group of 28 investors, including prominent names like Winslow Capital and Wellington Management.
Keep reading to explore the intricacies of Payoneer's fundraising journey and the investors backing this innovative platform.
What Is Payoneer?
Founded in 2005, Payoneer is a financial technology company based in New York, New York. The company was established by Ben Yaniv Chechik, Kai Stalmann, and Yuval Tal.
Payoneer offers a range of financial services, including cross-border payments, local receiving accounts, and marketplace payments. Their platform supports small and medium-sized enterprises in transacting and thriving globally.
With a workforce of 1001-5000 employees, Payoneer continues to simplify international business transactions, making global business as easy as local business.
How Much Funding Has Payoneer Raised?
- Post-IPO Equity
- Amount Raised: $300M
- Date: June 2021
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and enhance financial stability.
- Series E
- Amount Raised: $180M
- Date: October 2016
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global growth and enhance the balance sheet.
- Series E
- Amount Raised: $50M
- Date: August 2015
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and market reach.
- Series D
- Amount Raised: $1M
- Date: September 2014
- Lead Investors: Nyca Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and new initiatives.
- Series D
- Amount Raised: $25M
- Date: March 2014
- Lead Investors: Susquehanna Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand globally.
Total Amount Raised: $556M. Current Valuation: Not publicly disclosed.
Key Investors
- Wellington Management
- Details: Wellington Management is a private, independent investment management company. It manages over $1 trillion in client assets.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Airbnb, Robinhood, SpaceX.
- TCV (Technology Crossover Ventures)
- Details: TCV is a leading provider of growth capital to technology companies. It has invested over $14 billion in over 350 companies.
- Investment Focus Areas: E-commerce, software, fintech.
- Notable Investments: Netflix, Facebook, Spotify.
- Susquehanna Growth Equity
- Details: Susquehanna Growth Equity focuses on growth equity investments in technology and software companies. It is part of the Susquehanna International Group.
- Investment Focus Areas: Fintech, software, healthcare IT.
- Notable Investments: Credit Karma, iCIMS, Payoneer.
- Nyca Partners
- Details: Nyca Partners is a venture capital and advisory firm exclusively focused on fintech. It was founded by Hans Morris, former President of Visa.
- Investment Focus Areas: Payments, lending, insurance.
- Notable Investments: Affirm, Acorns, Digit.
- Ping An
- Details: Ping An is one of the largest financial services companies in China. It offers a wide range of financial products and services.
- Investment Focus Areas: Insurance, banking, asset management.
- Notable Investments: Lufax, OneConnect, Ping An Good Doctor.
What's Next for Payoneer?
Payoneer stands at the cusp of significant growth opportunities, particularly in expanding its services in key markets like India, Japan, and the Philippines. The company is poised to leverage its partnerships with global marketplaces and networks, such as Rakuten.com and Linio, to enhance its market reach. The introduction of new billing and escrow services further underscores its commitment to innovation.
Future fundraising efforts could be bolstered by the company's strong growth trajectory and strategic fit with investors like TCV. This momentum may pave the way for an initial public offering (IPO), providing additional capital to fuel expansion and technological advancements.
However, Payoneer must navigate challenges such as regulatory approvals and intense competition in the digital payments space. Ensuring compliance with international payment regulations and maintaining the security of its services will be crucial as the company scales its operations globally.
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