Program meets the complex needs of
aggregators, while offering services to third-party sellers
Payoneer Global Inc. (“Payoneer”) (NASDAQ: PAYO), the commerce
technology company powering payments and growth for the new global
economy, today announced: Payoneer for Aggregators, a new growth
program for the e-commerce industry. Payoneer for Aggregators
extends Payoneer’s services to acquisition firms focused on
third-party sellers. The program is augmented by a suite of
services aimed at helping sellers grow and prepare for an exit,
including Capital Advance, a working capital offering and Green
Channel, a marketplace onboarding service.
Today, there are approximately 5 million third-party sellers
operating on Amazon, with more than 1 million sellers entering the
online marketplace in 2020 alone. Due to their success, firms,
known as aggregators, are on the lookout to acquire successful
e-commerce brands for the purpose of scaling them globally,
attracting over $7 billion in capital since April 2020. Payoneer’s
program addresses this challenge from both sides, fueling seller
growth to make them more attractive as an acquisition opportunity,
while also solving the complex business needs of aggregators.
Payoneer for Aggregators
This partnership program offers aggregators a wide range of
services geared towards driving expansion for global e-commerce
brands, and designed for the needs of large, diversified,
high-growth businesses. These services include local receiving
accounts, competitive foreign exchange rates, supplier payment
services and the Payoneer Digital Mastercard. Payoneer is also
launching additional features tailored for aggregators, such as
optimized onboarding, role management and permissions, as well as
account consolidation.
Payoneer has announced the Razor Group as a marquee Payoneer for
Aggregators partner. Razor is a leading aggregator in Europe,
having recently closed financing of $400 million led by Victory
Park Capital Advisors and BlackRock. As a skyrocketing company
which was founded in August 2020, Razor has quickly accomplished
what took other aggregators years. With over a decade of experience
in building successful e-commerce brands, Razor combines experts
and specialists of all fields which backs this soaring success.
Payoneer Fuels Seller Growth
Complimenting the Payoneer for Aggregators program, Payoneer
also offers various growth services to sellers that are in the
process of preparing for a potential exit, including those referred
by the aggregators themselves. These growth services include
working capital financing at industry-low rates, and access to new
marketplaces via Payoneer’s Green Channel program.
“Many e-commerce sellers are finding they need support to grow
their operations to fully tap into the exponentially growing
opportunity. Payoneer’s comprehensive offering for sellers supports
these businesses in scaling and makes them attractive to the
aggregators. At the same time, we’re working with aggregators to
meet their complex payment needs. This is what has always made
Payoneer so unique in the market – we are a partner to both sides
of the e-commerce network, and understand what businesses of all
sizes need to grow in the new digital economy,” said James Allum,
Payoneer VP and Regional Head of Europe.
“Partnering with Payoneer is grounded in our mutual mission to
see online sellers succeed on an international scale,” said Jonas
Diezun, Managing Director at Razor. “We acquire FBA businesses to
transform brands into true global players, and with Payoneer, we’re
creating a viable path for third-party merchants to see their
brands expand globally with us.”
Operating at six offices worldwide, Razor knows what a true
global player looks like. Their 300+ employees are scattered across
three continents, yet work together as one unit coming together to
make the acquired brands grow as much as the company itself. With a
clear focus on carefully selected categories, Razor is committed to
generating long-term value and reaching superior customer
satisfaction - pursuing the goal to catapult e-commerce merchants
to the next level - and transform them into serial
entrepreneurs.
For more information, please visit
Payoneer.com/PayoneerForAggregators.
About Payoneer
Payoneer is the world's go-to partner for digital commerce,
everywhere. From borderless payments to boundless growth, Payoneer
promises any business, in any market, the technology, connections
and confidence to participate and flourish in the new global
economy.
Since 2005, Payoneer has been imagining and engineering a truly
global ecosystem so the entire world can realize its potential.
Powering growth for customers ranging from aspiring entrepreneurs
in emerging markets to the world's leading digital brands like
Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a
universe of opportunities, open to you.
Forward-Looking Statements
This press release includes, and oral statements made from time
to time by representatives of Payoneer, may be considered
“forward-looking statements”. Forward-looking statements generally
relate to future events or Payoneer’s future financial or operating
performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expect,”
“intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,”
“potential” or “continue,” or the negatives of these terms or
variations of them or similar terminology. Such forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward looking statements. These
forward-looking statements are based upon estimates and assumptions
that, while considered reasonable by Payoneer and its management,
as the case may be, are inherently uncertain. Factors that may
cause actual results to differ materially from current expectations
include, but are not limited to the occurrence of any of the risks
and uncertainties set forth in the section entitled “Risk Factors”
and “Cautionary Statement Regarding Forward-Looking Statements”, as
well as any further risks and uncertainties contained, in the
prospectus filed by Payoneer on August 6, 2021. Nothing in this
press release should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Payoneer does not undertakes any duty to
update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20211104005447/en/
Media Irina Marciano PR@Payoneer.com
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