Payoneer Adds Capabilities With Acquisition of Data Platform, Spott
03 Agosto 2023 - 9:00AM
Business Wire
Spott’s AI enhances Payoneer’s service offerings to expand
services to customers across 190 countries
Payoneer (NASDAQ: PAYO), the financial technology company
empowering the world’s small and medium-sized businesses (SMBs) to
transact, do business, and grow globally, today announced the asset
acquisition of Israel-based Spott, a real-time data platform that
uses AI to accurately surface, assess, and quantify data for more
informed and faster business decision-making. Spott’s technology
will enable Payoneer to better understand and serve customers,
which supports our mission to make it easier for SMBs to operate
and grow their business around the world.
Harnessing Spott’s capabilities, Payoneer will analyze large
sets of data to apply advanced AI models and make predictions and
decisions about its service offerings for a global SMB customer
base. The first application of the technology will be on the
Payoneer working capital products to enhance underwriting
capabilities.
“Today’s announcement is part of Payoneer’s commitment to
investing in AI and data to provide unique and seamless experiences
for our customers,” said Assaf Ronen, Chief Platform
Officer at Payoneer. “We look forward to seeing the impact that
these capabilities will have on Payoneer customers. Spott has built
a strong solution, and as part of Payoneer, this innovative
technology will be available to SMBs in nearly 200 countries and
territories.”
“This is another exciting step on the journey for us. We believe
in the impact our technology can have on Payoneer’s global
customers and today’s announcement means the solution can help more
businesses around the world,” said Amit Batzir, Co-founder and
CEO at Spott. “Payoneer was a natural fit for the vision we
have for our technology, and we look forward to working with the
team and building for the future.”
As part of the transaction, Spott’s co-founders, CEO Amit Batzir
and CTO Roma Bronstein will join Payoneer’s Technology team, also
based in Israel.
About Payoneer Payoneer is the financial technology
company empowering the world’s small and medium-sized businesses to
transact, do business and grow globally. Payoneer was founded in
2005 with the belief that talent is equally distributed, but
opportunity is not. It is our mission to enable anyone anywhere to
participate and succeed in the global digital economy. Since our
founding, we have built a global financial platform that has
already made it easier for millions of SMBs, particularly in
emerging markets, to pay and get paid, manage their funds, and grow
their business.
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” within the
meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or Payoneer’s future
financial or operating performance. For example, projections of
future revenue, transaction cost and adjusted EBITDA are
forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as “may,” “should,”
“expect,” “intend,” “plan,” “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: (1) changes in
applicable laws or regulations; (2) the possibility that Payoneer
may be adversely affected by geopolitical and other economic,
business and/or competitive factors; (3) Payoneer’s estimates of
its financial performance; (4) the outcome of any known and/or
unknown legal or regulatory proceedings; and (5) other risks and
uncertainties set forth in Payoneer’s Annual Report on Form 10-K
for the period ended December 31, 2022 and future reports that
Payoneer may file with the SEC from time to time. 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 undertake any duty to
update these forward-looking statements.
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