Visa invests in Behalf for SME financing

Wednesday 8 August 2018 10:31 CET | News

Visa has invested in Israeli startup Behalf as it targets the SME market with access to capital and financing.

Behalf, which has offices in Tel Aviv and New York, provides working capital solutions for small businesses and financing for business purchases.

As part of Visa’s investment, of which financial details were not disclosed, it will offer Behalf’s clients a tokenised Visa Virtual Card, a credit-based payment solution that gives businesses financing. The card will initially be offered in the US.

This partnership follows on from Visa’s commitment to invest up to USD 100 million in fintech, as announced in June 2018 at the Money 20/20 conference in Amsterdam.

Behalf is the first investment made by Visa in an Israeli company. It follows the Spring 2018 launch of the Visa Innovation Studio in Tel Aviv.

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Keywords: Behalf, Visa, SME, financing, payments, investment
Countries: World