Founders: Yuval Tal
Launched: 2005
Funding: $234 million
Valuation: $880 million (PitchBook)
Disrupting: E-commerce, mobile payments
Rival: Bluesnap, PayU
George Kavallines
Helping businesses trade with other businesses across borders is the mission of Payoneer, a global provider of payment-processing technologies. The New York City-based company was started in 2005 by Yuval Tal, an Israeli entrepreneur who helped start other technology and e-commerce payments companies before Payoneer.
Read More FULL LIST: 2017 DISRUPTOR 50
The company helps facilitate global commerce by connecting businesses, professionals, countries and currencies. It does business in over 200 countries and counts Airbnb, Amazon, Google and Upwork among its customers. CEO Scott Galit has said that Visa and MasterCard have local collection capabilities around the world that can help consumers with cross border payments, but that businesses were not offered that same solution. Now, the global payment processing market for businesses is white-hot with Payoneer competing with other growing companies such as Adyen, Bluesnap, and PayU.
In October, the company raised $180 million from Technology Crossover Ventures to bolster its product development and technical staff, bringing its total raised to $234 million. It has also opened offices in India, Japan, and the Philippines, over the past year, fueling speculation that the company will soon be ready to file for an IPO.
