Payoneer secures investment from Chinese financial services provider Ping An

china

Payoneer has received an investment from the investment arm of Ping An Group, an integrated financial services provider and the largest non-state-owned enterprise in China.

This endorsement by Ping An, along with collaboration to jointly promote the Payoneer brand and leverage Ping An’s local know-how, will accelerate Payoneer’s growth in China, enhance its customer relationships and further strengthen the value proposition Payoneer offers businesses throughout Asia and beyond.

“We share a strategic vision with Ping An of how we can help Chinese businesses grow their cross-border sales by facilitating scalable, efficient, cross-border payments services,” said Scott Galit, CEO of Payoneer. “This is a huge market opportunity and this financing is just the beginning of our collaboration with Ping An, solidifying Payoneer’s position as the go-to payments company for businesses looking to scale in China, Asia and the rest of the world.”

“Payoneer has an exciting business strategy in China and offers payment solutions to marketplaces, ecommerce platforms, technology companies, professionals and small business owners around the world,” said Jiang Zhang, Director of Ping An Ventures. “We are confident that this partnership will result in the addition of many value-added services and support Chinese business owners as they grow their sales around the world and support global companies as they expand in the fast-growing China market.”

 

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