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Payoneer was founded in 2005 with $2 million in seed funding from founder and then-CEO Yuval Tal and other private investors. 83North (Greylock Israel) [7] led an additional $4 million in funding in 2007, [8] with additional investors including Carmel Ventures, Crossbar Capital, Ping An, Wellington Management, Susquehanna Growth Equity, [7] Naftali Bennett [9] and Nyca Partners.