A global paytech company expands its presence in New York
Payoneer, a leading provider of cross-border payment solutions for digital businesses, has announced that it will relocate its headquarters to 195 Broadway in downtown Manhattan. The company has signed a lease for 44,000 square feet of office space in the historic building, which was once the headquarters of AT&T and Western Union.
Payoneer, which was founded in 2005, enables businesses and entrepreneurs from over 200 countries and territories to send and receive payments in multiple currencies. The company claims to have more than 6 million customers and processes over $44 billion in annual payment volume. Payoneer also offers services such as working capital, tax solutions, risk management, and compliance.
The company’s current headquarters are located at 150 West 30th Street, where it occupies about 28,000 square feet. The move to 195 Broadway will allow Payoneer to accommodate its growing workforce and expand its product offerings. The company expects to complete the relocation by the end of 2023.
A strategic location for a global business
Payoneer’s decision to move to 195 Broadway reflects its commitment to New York as a strategic hub for its global operations. The company has offices in 21 locations around the world, including London, Tel Aviv, Tokyo, and Bangalore. However, New York remains its largest and most diverse market, with customers ranging from e-commerce platforms, freelancers, and online sellers, to digital agencies, software developers, and travel companies.
195 Broadway is a prime location for Payoneer, as it is situated in the heart of the Financial District, close to major transportation hubs, such as Fulton Street Station and the World Trade Center. The building, which was built in 1916, is a landmark of the city’s architectural and technological history, featuring a neo-classical facade, a grand lobby, and a vaulted ceiling. The building has been renovated and modernized to meet the needs of today’s tenants, offering amenities such as a fitness center, a conference center, and a rooftop terrace.
Payoneer will join other prominent tenants in the building, such as Omnicom Group, HarperCollins, and WeWork. The landlord, L&L Holding Company, has welcomed Payoneer as a valuable addition to the building’s roster of innovative and dynamic companies.
A new chapter for a fast-growing company
Payoneer’s move to 195 Broadway marks a new chapter for the company, which has been experiencing rapid growth and transformation in recent years. In June 2023, Payoneer went public through a merger with a special purpose acquisition company (SPAC) called FTAC Olympus Acquisition Corp. The deal valued Payoneer at $3.3 billion and gave it access to more capital and liquidity to fuel its expansion.
In September 2023, Payoneer appointed Assaf Ronen as its first chief platform officer, who will lead the company’s newly created platform division. Ronen, who joined Payoneer from SoFi, will oversee the development and integration of Payoneer’s technology, product, and high-value service units. He will also spearhead the launch of new financial products and services for Payoneer’s customers.
In May 2023, Payoneer appointed John Caplan as its co-CEO and director, alongside current CEO Scott Galit. Caplan, who joined Payoneer from Alibaba.com, will lead the company’s business organization and core corporate functions, while Galit will continue to manage Payoneer’s regulated activities and delivery functions. Caplan will take over as the sole CEO by the end of 2023, while Galit will remain in a strategic role within the company.
Payoneer’s move to 195 Broadway is a testament to the company’s vision, ambition, and success. As the company continues to grow and innovate, it will benefit from the new office’s location, space, and amenities. Payoneer’s customers, partners, and employees will also enjoy the advantages of being part of a vibrant and diverse community in downtown Manhattan.
