Payoneer Acquires Data Platform Provider Spott

Payonee has acquired Spott, a real-time data platform provider. Financial terms of the deal were not disclosed.

Harnessing Spott's capabilities, Payoneer will now be able to analyze large sets of data to apply advanced AI models and make predictions and decisions about its service offerings.

"Today's announcement is part of Payoneer's commitment to investing in AI and data to provide unique and seamless experiences for our customers," said Assaf Ronen, chief platform officer of Payoneer, in a statement. "We look forward to seeing the impact that these capabilities will have on Payoneer customers. Spott has built a strong solution, and as part of Payoneer, this innovative technology will be available to SMBs in nearly 200 countries and territories."

"This is another exciting step on the journey for us. We believe in the impact our technology can have on Payoneer's global customers, and today's announcement means the solution can help more businesses around the world," said Amit Batzir, co-founder and CEO of Spott, in a statement. "Payoneer was a natural fit for the vision we have for our technology, and we look forward to working with the team and building for the future."