Israel Fintech Startup Nayax Looking At $1 Billion Valuation With TASE IPO
Nayax joins a number of other Israeli fintech success stories.
Nayax Ltd., an Israeli Fintech firm is undergoing plan for an initial public offering on the Tel Aviv Stock Exchange (TASE) in the second quarter of 2021. The IPO is expected to give Nayax a valuation of $1 billion, reported Calcalist citing an anonymous source.
Founded in 2005 by CEO Yair Nechmad and CTO David Ben-Avi, Nayax is still privately owned and all of its shares are still held by its founders.
Fintech refers to new technologies which automate the delivery and use of financial services. Fintech is helps companies, business owners and consumers better manage their financial operations, processes, and lives through new specialized software and algorithms which consumers and businesses alike can use on their mobile devices and home computers.
Nayax is a global Fintech company which specializes in payments and M2M communication, and is a provider of cashless payment devices, telemetry, remote management, and BI solutions. Nayax devices are found all over the world, with branches in 9 countries, and 40 distributing partners. These devices serve consumers in 55 countries and accept 26 currencies.
Nayax’s produces proprietary software and hardware, including SIM cards, connectivity, credit card clearing, marketing tools and software for remotely managing vending machines or other unattended businesses.
A number of Israeli Fintech firms have been finding success lately. Israeli startup AccessFintech brought in $20 million in a Series B round of financing in October. AccessFintech declares itself a fintech company which brings self-service, transparency, risk mutualization and more efficient supply-chain management to the global financial services industry. Its platform lets financial firms minimize risks during trades.
Israeli AI-powered Fintech startup Pagaya raised $102 Million in June. Pagaya uses AI, machine learning and big-data analytics to manage institutional money. The company’s software has a focus on fixed-income and alternative credit assets. The fund will be used partly to move into new asset classes.
The company manages assets worth $2 billion in the US.