Online payment solution firm Payoneer has just completed a series D funding round for the amount of $25 million.
Susquehanna Growth Equity, LLC, a private equity firm that focuses primarily on Ecommerce and financial companies led the investment alongside current investors Carmel Ventures, Greylock IL and Vintage Venture Partners.
Payoneer offers payment solutions allowing companies to connect with and pay thousands of professionals and small businesses in over 200 countries. Payoneer offers direct bank transfer payment solutions in addition to a loadable prepaid MasterCard. Payoneer has seen a Compounded Annual Growth Rate of over 65% in the past 4 years, and plans on using the new funding to expand into new markets, and improve sales and marketing investments, as well as allow the firm to pursue acquisition opportunities.
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“This new funding will help us expand our position as the leading provider of payment solutions that connect marketplaces, ecommerce platforms, technology companies, professionals and small business owners from around the world. We are thrilled to welcome Susquehanna Growth Equity as the lead investor in this round and look forward to leveraging their deep industry knowledge and expertise to take Payoneer’s growth to the next level. All of our investment partners share our vision to empower global commerce by transforming the way small businesses around the world get paid for selling products and services across borders,” said Scott Galit, CEO of Payoneer.
Upon regulatory approval, Amir Goldman, Managing Director of Susquehanna Growth Equity is expected to joins Payoneer’s board of directors.