MONETA invests in Payzday
First of a kind online-commerce merchants’ credit platform
Tel Aviv, Israel, March 6th,2019 /– News release by Moneta Seeds.
Moneta Seeds announced today the closing of its investment in Pazday, a Fintech startup, that has developed an AI based platform for evaluating the financial strength of Ecommerce merchants.
Payzday(www.payzday.com), utilizes big data and machine learning techniques to evaluate the financial risk of Millions of online merchants (mainly those operating on Ecommerce marketplaces).
The company has developed the unique technology during the past 18 months, and is now in advanced trials with some of the world’s largest credit/loans providers. The leadership team of Payzday consists of both credit risk professionals and world class researchers.
About the Market: The need for Payzday’s solution arises as the financial activity on Ecommerce marketplaces (i.e. Amazon, Ebay) is completely invisible to Banks and Credit providers, which prevents them from offering credit/loans to this sector. In practice that means that only the marketplace owners are aware of the business indicators of their shops/merchants and are capable of offering credit, loans, or other financial services to their online- shops. With Ecommerce growing exponentially and exceeding the physical commerce in many sectors, the ability to evaluate online merchant’s business condition and gain real-time visibility to their financial indicators is of critical value. Payzday was created to open the market by making online merchants data, visible outside of the marketplace platforms, thus allowing Banks and alternative lending/credit providers engage with the Ecommerce sector based on high quality real time data.
As part of the investment, Moneta manager – Adoram Gaash, was nominated a member of the Board of Directors.
About Moneta VC
Moneta Venture Capital is managing 2 parallel funds: an early stage fund – Moneta Seeds, and a revenue stage fund – Moneta Capital. Moneta focuses on AI, Fintech and Insuretech and its portfolio companies are integrated in the world’s largest Banks, Financial institutions and Insurance firms. Moneta’smain added value consists of its Strategic Partnerships with world leading Banks and Insurance firms who are co-investing with Moneta and support its portfolio as design partners and clients.
Contact: Adoram Gaash