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Payoneer begins trading on Nasdaq

Payoneer, an Israeli-founded fintech startup, started trading on the US stock exchange Nasdaq this week. The company, which was founded in 2005 in Israel by Yuval Tal and Yaniv Chechik, closed about 1.5% lower following its market debut, with a market cap of just over $3.5 billion.

Prime Minister Naftali Bennett, who invested in Payoneer more than a decade ago, is expected to make a profit of several million dollars from the company’s market debut, which it makes following a merger with a special purpose acquisition company run by Bancorp founder Betsy Cohen.

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