Online money transfer company Payoneer announced today the purchase of the German platform Optile that streamlines payment acceptance processes for merchants worldwide, for an undisclosed amount.
According to Payoneer the acquisition of Optile is a meaningful step towards building a global platform for enterprises, marketplaces, and SMBs worldwide, democratizing opportunity and reducing complexity in today’s borderless world.
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Founded in 2005 by then-CEO Yuval Tal, an ex-officer in the Israeli army, Payoneer has developed a cross-border payment system. is one of the largest payment transfer companies in the world and operates in more than 200 countries in 150 different currencies.
Payoneer serves as a payment transfer infrastructure for leading corporations, including Amazon, Google, Airbnb, and Fiverr. The company has 1400 employees worldwide, of whom 830 are in the largest development center in Israel.
The company has raised $270 million to date including from Greylock, TCV, Susquehanna, and Viola. Latest financings round in 2016 raised $180 million.
Based in Munich, Optil was founded in 2010 and employs 75 people. It carries out multibillion-dollar money clearing transactions online for huge companies. These include Lufthansa Airline, KingFisher’s home product line, which operates 1,300 stores in Europe, and more.
Optil has developed and operates a payment platform that enables companies and sellers to connect in a variety of payment methods and clearing entities under one integration.
The acquisition will expand the array of solutions that Pioneer offers from transferring money between B2B companies to receive payments from consumers and significantly increase the company’s target audience.
According to Scott Galit, CEO of Payoneer, Optiel and Payoneer share a common vision that today’s digital and changing world, companies and businesses from across the globe are entitled to one platform that opens them to new opportunities while giving them control and flexibility in managing their payment system.
Optile’s team will continue to operate as an independent group within Payoneer and continue to develop the company’s payment platform as an independent payment brand.