The funding will be used to further strengthen Payoneer’s global platform and accelerate investment in the company’s local China operations.
The Series E-1 funding follows last year’s USD 220 million Series E investment round, which included Technology Crossover Ventures (TCV), W Capital and other existing investors.
CBC’s investment is aimed at expanding the company’s services in China where it help local companies grow locally and other non-local companies enter the China market.
Payoneer connects businesses, professionals, countries and currencies with its cross-border payments platform to facilitating seamless, cross-border payments. Amazon, Google, Airbnb, UpWork and other companies use Payoneers mass payout services.
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