Payoneer Global Inc., a financial technology company, reported a record annual transaction volume of $80 billion in 2024, showing a 21% increase from the previous year. The company also posted 18% annual revenue growth and achieved record profitability.
“2024 was a defining year for Payoneer,” said John Caplan, CEO of Payoneer. “We achieved new records for annual volume, revenue, and profitability, saw strong volume and revenue growth with B2B SMBs, and increased adoption of our high-value products.”
Caplan is optimistic for 2025 as the company plans to focus on expanding its regulatory moat, modernizing technology infrastructure, and further enhancing its financial stack.
Payoneer’s B2B segment showed growth, with a 42% year-over-year increase in transaction volume. The company also reported a 36% rise in spending on Payoneer-issued cards, reaching $1.5 billion in the fourth quarter alone.
Global presence
Aside from financial performance, Payoneer made strategic moves to strengthen its global presence. It acquired Skuad, a workforce and payroll management company, to enhance its offerings for small and medium-sized businesses operating internationally. It also secured regulatory approvals in China for its planned acquisition of a local payment service provider, which is expected to close in the first half of 2025.
“We achieved 20% growth in revenue excluding interest income and delivered three consecutive quarters of positive adjusted EBITDA. Our 2025 guidance reflects confidence in our strategy and in our ability to build upon the momentum of 2024,” said Bea Ordonez, chief financial officer of Payoneer.
With continued investments in technology and regulatory compliance, Payoneer aims to sustain its growth while strengthening its financial services for businesses worldwide.