Payoneer Inc., a New York-based online payments company for businesses to send and receive cross-border payments, received a $50m investment.
The round was led by Wellington Management Company with participation from existing shareholder Susquehanna Growth Equity, LLC. They joined current investors Carmel Ventures, Greylock Partners, Nyca Partners and Ping An Group.
The company intends to use the funds to accelerate global expansion.
Founded in 2005 and led by Scott Galit, CEO, Payoneer provides a cross-border payments platform that allows global commerce by connecting businesses, professionals, countries and currencies.
The company also has offices in Silicon Valley, Europe and Asia, with a total workforce of more than 500 employees globally.