Payoneer raises $180m to expand their payments service

PayoneerPayments provider Payoneer has just received $180 million in investment to help with its push to expand its operations.

If you’re not familiar with the service, but do significant trade with China, then it is well worth checking them out. This big chunk of new funding is expected to be the last round before they go public, according to reports.

CEO Scott Galit says: “We are in the business of helping businesses trade with other businesses across borders. We have local collection capabilities around the world. This is something that Visa and MasterCard do with consumer payments, but it doesn’t exist in business-to-business.”

One service of particular note that Payoneer provide is easily providing bank accounts in China. That may be of interest to you.