Payoneer is a financial services company that provides online money transfer and digital payment services. Payoneer account holders can send and receive funds into their bank account, Payoneer e-wallet, or onto a re-loadable prepaid MasterCard debit card that can be used online or at points-of-sale. The company specializes in facilitating cross-border B2B payments.
Payoneer has roughly four million users in more than 200 countries and territories, and provides cross-border transactions in more than 150 local currencies utilizing its banking network around the world to make local bank transfers.
Payoneer was founded in 2005 by Ben Yaniv Chechik & Yuval Tal based out of NY, NY.
Payoneer raised a Total amount of $270M in their 13 Funding Rounds. The company received $180M from TCV in latest Series E fundraising event on Oct 5, 2016.
In March 2016, Payoneer acquired internet escrow company Armor Payments to address the market for B2B transactions between US$500 and $1,000,000, where credit cards and Letters of Credit are not suitable. In June 2017 the company also opened an office in London, citing potential opportunities from Brexit as a reason for this expansion.