Online payments provider Payoneer has completed a $25 million Series D financing round it will use to expand through acquisitions and other efforts.
Susquehanna Growth Equity, a private equity affiliate of Susquehanna International Group, was the lead investor in the deal alongside existing investors Carmel Ventures, Greylock IL and Vintage Venture Partners.
"We look forward to working with the Payoneer team to continue to capitalize on the exciting opportunities in the $50 trillion global market for cross-border business payments," says Amir Goldman, managing director of Susquehanna Growth Equity in a March 5 press release.
Payoneer plans to use the new capital to continue to expand, says Scott Galit, CEO of Payoneer, in the release. In addition to acquisitions, the funds will help "to accelerate its product roadmap, expand into new verticals and markets and increase sales and marketing investments," Galit says.
Susquehanna also provides "deep industry knowledge and expertise," Galit says in the release. Goldman plans to join Payoneer's board of directors upon receiving regulatory approval, the companies say.
Headquartered in New York, Payoneer facilitates cross-border commerce through a payment platform that connects thousands of companies with freelancers and other professionals across more than 200 countries.