PayPal competitor Payoneer raises USD8m from Greylock

Online payment service Payoneer has raised USD8m in Series B funding from Greylock Partners and Carmel Ventures, reports TechCrunch.

The funds add to a USD6m Series A round raised last year. The new investment will reportedly be used to expand into different global markets and to invest in anti-fraud technology.

Payoneer was founded in Israel and has headquarters in New York and Tel Aviv. The firm markets and manages pre-paid MasterCards. These are activated and managed online, and can be used to make purchases over the internet as well as in shops and businesses around the world. Payoneer works with the First Bank of Delaware to issue and process its cards.

Published by Reinout te Brake

Reinout is a games investor and strategic business consultant specializing in the games industry. Reinout established his credentials through his own successful investments, start-ups, consulting and (advisory) board positions that led through time to strong bonds with key stakeholders in this fast paced industry. He is known for his outstanding results in the gaming industry. He has worked with many game studios around the globe and is therefore well known in the international gaming industry. Check out his games podcast;

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