Payoneer Digital Payments Group to merge $ 3.3 billion SPAC

Digital payments company Payoneer has become the latest Israeli company to be listed on Wall Street through a merger with White Checks Inc. FTAC Olympus Acquisition Corp. announced today. (Nasdaq: FTOC), a Special Purpose Acquisition Company (SPAC), says it has entered into a final agreement and reorganization plan with Payoneer. The newly created holding company will change its name to Payoneer Global Inc. It is expected to be worth $ 3.3 billion. The company was founded in 2005 in Israel by Yuval Tal and Ben Yaniv işik and raised $ 235 million from investors including TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, and Temasek. Payoneer has more than tripled its value since it looked at the float in 2019 with a $ 1 billion valuation. Over the past fifteen years, Payoneer has built a payment ecosystem that connects markets, vendors, freelancers, workers, manufacturers, banks, suppliers, buyers, and more in an integrated global platform. Payoneer’s secure and structured platform provides a global multi-currency account for businesses of any size around the world, enabling them to pay and get paid globally as easily as you would locally. Payoneer has expanded its services to enable businesses to grow globally. Payoneer Services include: Market Payments; B2B Accounts Payable / Accounts Receivable; commercial services; Man power; And risk and compliance services. Scott Gallet, CEO of Payoneer, said, “Technology is transforming commerce globally, shrinking borders and enabling entrepreneurs from around the world to build digital businesses. This new way of doing business requires a global financial platform built for the digital age. The Payoneer platform provides Designed for this purpose, with global connectivity with local capabilities, with robust and scalable infrastructure, compliance, risk and regulation. ” Betsy Cohen, Chairman of FTAC Olympus Acquisition Corp., said, “Payoneer is at the forefront of the rapid global shift to digital commerce in all sectors. Its innovative, unique, high-tech, high-touch platform puts Payoneer at the center of some of the most powerful and enduring trends. Leading global commerce today. It has demonstrated its ability to facilitate the overall growth of e-commerce through capabilities such as digitization of B2B payments, global risk and compliance infrastructure, and enable small and medium businesses to grow and expand rapidly, setting Payoneer apart. Could not be more enthusiastic about this transaction That will allow this talented team to accelerate its growth strategy and further democratize access to global trade. ” Posted by Globes, Israel business news – en.globes.co.il – on February 3, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021