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Payoneer Pulls in $50 Million


PayoneerPlacedMobileCross-border payments platform Payoneer closed its eighth round of funding yesterday, a $50 million investment from seven contributors.

Financiers include new investors Greylock, Secondary Market, and Wellington Management. Existing investors Carmel Ventures, Nyca Partners, Ping An, and Susquehanna Growth Equity also contributed.

The new installment brings the company’s total funding to $90 million. While shares were purchased from existing investors, all of Payoneer’s major shareholders retained the majority of their holdings.

Payoneer’s money-transfer solutions enable small businesses and professionals to receive funds in 150 currencies and withdraw the money to their local bank account in their own currency. It also facilitates mass payouts for businesses looking to transfer money internationally, a service that supports companies such as newegg, airbnb, and fiverr.

The New York-based company has 500 employees in offices across Silicon Valley, Europe, and Asia.

Payoneer debuted its commercial account capability at FinovateAsia 2013. Check out the live demo video below: