New York based digital payments company Payoneer has completed a $180m Series E financing round led by TCV. Payoneer empowers global commerce by connecting businesses, professionals, countries and currencies with its innovative cross-border payments platform.
Proceeds from the financing will be used to accelerate global growth and to enhance an already strong and debt-free balance sheet. In addition to its investment in a newly issued preferred stock, TCV has also committed to purchase shares from existing shareholders, pending regulatory approval and other customary closing conditions. Scott Galit, CEO of Payoneer, stated, "TCV shares our belief that we can make a difference by empowering entrepreneurs throughout the world by offering them tools and solutions to participate, compete and succeed in the global economy. TCV's connections with fast growing e-commerce marketplaces, global brand-building expertise and its long-term investment philosophy are the perfect fit for Payoneer and will help us propel our growth in the years to come."