Payoneer, a startup whose technology enables companies to pay their suppliers anywhere in the world, said on Wednesday it had raised $25 million in an investment round led by the U.S. private equity firm Susquehanna Growth Equity.
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Existing investors Carmel Ventures, Greylock IL and Vintage Venture Partners joined the round, the company said. Amir Goldman, managing director of Susquehanna Growth Equity, will join Payoneer’s board.
“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,” said Payoneer CEO Scott Galit.
Payoneer provides a payment platform that connects thousands of companies with millions of professionals and small business owners in some 200 countries. Already profitable, the company said it would use the new capital to expand into new markets and increase sales and marketing as well as to pursue acquisitions.
The company was founded in New York, where it is headquartered, in 2005 by Yuval Tal, who served until 2011 as CEO and is now its president and director of business development.