Program meets the complex needs of aggregators, while offering services to third-party sellers
Payoneer Global Inc. (“Payoneer”) (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, today announced: Payoneer for Aggregators, a new growth program for the e-commerce industry. Payoneer for Aggregators extends Payoneer’s services to acquisition firms focused on third-party sellers. The program is augmented by a suite of services aimed at helping sellers grow and prepare for an exit, including Capital Advance, a working capital offering and Green Channel, a marketplace onboarding service.
Today, there are approximately 5 million third-party sellers operating on Amazon, with more than 1 million sellers entering the online marketplace in 2020 alone. Due to their success, firms, known as aggregators, are on the lookout to acquire successful e-commerce brands for the purpose of scaling them globally, attracting over $7 billion in capital since April 2020. Payoneer’s program addresses this challenge from both sides, fueling seller growth to make them more attractive as an acquisition opportunity, while also solving the complex business needs of aggregators.
Payoneer for Aggregators
This partnership program offers aggregators a wide range of services geared towards driving expansion for global e-commerce brands, and designed for the needs of large, diversified, high-growth businesses. These services include local receiving accounts, competitive foreign exchange rates, supplier payment services and the Payoneer Digital Mastercard. Payoneer is also launching additional features tailored for aggregators, such as optimized onboarding, role management and permissions, as well as account consolidation.
Payoneer has announced the Razor Group as a marquee Payoneer for Aggregators partner. Razor is a leading aggregator in Europe, having recently closed financing of $400 million led by Victory Park Capital Advisors and BlackRock. As a skyrocketing company which was founded in August 2020, Razor has quickly accomplished what took other aggregators years. With over a decade of experience in building successful e-commerce brands, Razor combines experts and specialists of all fields which backs this soaring success.
Payoneer Fuels Seller Growth
Complimenting the Payoneer for Aggregators program, Payoneer also offers various growth services to sellers that are in the process of preparing for a potential exit, including those referred by the aggregators themselves. These growth services include working capital financing at industry-low rates, and access to new marketplaces via Payoneer’s Green Channel program.
“Many e-commerce sellers are finding they need support to grow their operations to fully tap into the exponentially growing opportunity. Payoneer’s comprehensive offering for sellers supports these businesses in scaling and makes them attractive to the aggregators. At the same time, we’re working with aggregators to meet their complex payment needs. This is what has always made Payoneer so unique in the market – we are a partner to both sides of the e-commerce network, and understand what businesses of all sizes need to grow in the new digital economy,” said James Allum, Payoneer VP and Regional Head of Europe.
“Partnering with Payoneer is grounded in our mutual mission to see online sellers succeed on an international scale,” said Jonas Diezun, Managing Director at Razor. “We acquire FBA businesses to transform brands into true global players, and with Payoneer, we’re creating a viable path for third-party merchants to see their brands expand globally with us.”
Operating at six offices worldwide, Razor knows what a true global player looks like. Their 300+ employees are scattered across three continents, yet work together as one unit coming together to make the acquired brands grow as much as the company itself. With a clear focus on carefully selected categories, Razor is committed to generating long-term value and reaching superior customer satisfaction - pursuing the goal to catapult e-commerce merchants to the next level - and transform them into serial entrepreneurs.
For more information, please visit Payoneer.com/PayoneerForAggregators.
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Since 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realize its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world's leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a universe of opportunities, open to you.
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