Online Payment Company Payoneer Acquires German Payment Company Optile

Israel-based online payment company Payoneer Inc. has acquired Munich-based payment company Optile GmbH, the former announced Tuesday. Financial details of the acquisition were not disclosed.

Optile’s team of 75 employees will continue working as an independent group within Payoneer and will continue to develop Optile's payment service as an independent brand. Founded in 2005 with additional offices in New York and Hong Kong, Payoneer provides online money transfer and digital payment services, operating according to the American standard. Users can pay and receive funds via several methods, including credit cards, debit cards, electronic wallets, and bank transfers. The company lists Airbnb, Google, and Amazon as customers.

Pioneer employs around 1,400 people, 830 of them in Israel. The company raised $305 million to date, according to Pitchbook data, with $180 million of the sum in 2016 when shareholders, including co-founder Yuval Tal, sold part of their stake.