Payoneer secures new funding; adds Citi exec to board

Source: Payoneer

Payoneer Inc., a leading online payments company transforming the way businesses send and receive cross-border payments, announced today that Hans Morris, managing partner at Nyca Partners, former president of Visa and longtime Citi executive, has joined the company's board of directors. Nyca Partners has also made a minority investment in Payoneer.

Mr. Morris has more than 30 years of experience in the financial services industry. He served as president of Visa while the company underwent its IPO, at the time the largest in U.S. history. Prior to his role at Visa, Morris spent over 20 years in senior roles at Citigroup, including CFO of the Global Corporate and Investment Bank. He also acted as managing director at global growth equity firm General Atlantic.

Morris recently formed Nyca Partners, a venture capital and advisory firm that brings together New York banking expertise and Silicon Valley technology expertise. Morris' investment partners in Nyca include Max Levchin, co-founder of PayPal, and Osama Bedier, former head of Google Payments. Nyca Partners has invested in more than 10 financial technology companies, and Morris also serves on the board of Lending Club and Cardworks.

"We are delighted to add an industry leader like Hans to Payoneer's board of directors and we're excited to have Nyca as an investor," said Scott Galit, CEO of Payoneer. "Hans shares Payoneer's vision to empower global commerce by connecting businesses all around the world on an innovative financial platform. We are thrilled to add his expertise, along with the expertise of the entire Nyca team, to help us as we transform cross-border payments in today's borderless digital world."

"Global financial services companies require the right application of technology, compliance and regulatory rigor, while also creating a compelling user experience," said Morris. "Payoneer continues to show it can excel in all of these areas, and continues to innovate and create compelling solutions for companies that need to make lots of payments or get paid in lots of places. It's a great leadership team, with a big vision, and I am excited to be part of it."

Payoneer recently announced a strategic investment from Ping An Group as a follow-on to the Series D financing round led by Susquehanna Growth Equity that also included Carmel Ventures, Greylock and Vintage Venture Partners, which closed in March.

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