• 07 Aug 2017

    UPS Capital teams up with Payoneer for cross-border B2B transactions

    With a focus on providing customers and shippers in more than 200 markets and 150 currencies the ability to leverage a secure, digital platform to conduct and perform B2B (business-to-business) transactions protected by licensed escrow, UPS Capital, a financial services subsidiary of UPS, announced a new offering today through a collaboration with cross-border payments company Payoneer. 

    By Jeff Berman, Group News Editor · August 7, 2017

    With a focus on providing customers and shippers in more than 200 markets and 150 currencies the ability to leverage a secure, digital platform to conduct and perform B2B (business-to-business) transactions protected by licensed escrow, UPS Capital, a financial services subsidiary of UPS, announced a new offering today through a collaboration with cross-border payments company Payoneer.

    UPS Capital Vice President, Marketing, Dave Zamsky said that UPS Capital is focused on three key aspects of the supply chain, including:

    • risk mitigation in the form of supply chain insurance;
    • cash flow or leveraging the goods in the supply chain and helping businesses improve their cash flow; and
    • payment solutions and how to shorten the cash conversion cycle

    “What we are trying to do is to help customers grow their top line and protect their bottom line at the same time,” he said. “We try to cover all aspects of the order-to-cash cycle in the supply chain.”

    Today’s announcement was spurred on by UPS Capital’s focus on small and medium sized businesses and what it can do to help them grow their business, he explained. And from a B2B perspective, payments have traditionally been very manual, cost-prohibitive and a very difficult thing for businesses of that size to get through.

    “We saw an opportunity through what is going on in the B2B and B2C space to help them by creating a more efficient, cost-effective way to do payment, particularly in the B2B space, as you think about it going across borders,” he said. “There is a lot of focus these days n B2C, but the B2B market is actually larger than the B2C market by about twice the size. And when you look at the research you find that…that the B2B commerce aspect is projected to be about $1.2 trillion in sales by around 2020 [based on data from Forrester, U.S. Census and Internet Retailer]. There has been so much focus on the B2C space that there has not been a lot done to help these B2B customers, buyers, and sellers in this e-commerce space. It is also a pain point for small to medium sized businesses, and in order for them to grow the need to source internationally, with 95% of the population lies outside of the U.S. as does two-thirds of the buying power.”

    As a result he said a lot of these businesses are reluctant to grow internationally, because they don’t know how to navigate that as a buyer or a seller in terms of different currencies and languages, as well as how to vet new customers and create trust between the two businesses. He also stressed that managing banking relationships can be complex once an entity reaches outside of the U.S.  

    The collaboration between UPS Capital and Payoneer provides buyers and sellers with access to more than 200 countries and 150 currencies, and it provides a secure digital platform for moving payments across those borders.

    “There are three major components of the supply chain transaction,” he said. “The shipper-consignee is the first major component, payment is second, and the third is the transportation. When you look at that, we have an opportunity to tie those three components together in a seamless transaction and that can be very powerful and this is a vehicle to do that. What happens is the shipper and a buyer agrees to go on to Payoneer and sign up on the site. There is no application required, you sign up and register and activate within minutes.”

    From that point, he said that the seller communicates what goods it has with an agreement to buy some supplies or products, and once that agreement and price is reached the payer or buyer can put those funds into escrow as a licenses secure escrow managed by Payoneer. And when that is done a message is sent to the shipper that funds are in escrow and goods can be shipped (goods shipper by UPS in these transactions receive a 10% discount on fees, said Zamsky). Once the goods are received and the buyer validates that the goods are exactly what was ordered and in good shape, another message gets sent in to release the funds and funds are released to the shipper, completing the transaction.


    “This is where the trust comes in, because most small to medium sized business don’t want to do international transactions, because as a shipper they are afraid of non-payment, lost sale, or insolvency,” he said. “If you are a buyer, you don’t know if your goods are going to be ordered or if you are going to get them at all, or if they will be in good order when you get them. There is this kind of dual lack of trust, and this new online service really creates that risk mitigation piece and helps to link buyers and sellers.”

  • 19 Jul 2017

    TradAir and Snap Innovations Team Up to Deliver Innovative FX Solutions for Asia

    TradAir, an Israel-based provider of cloud-based trading technology solutions, today announced a partnership agreement with Singapore-based Snap Innovations, a multi-asset trading software and services specialist, to develop joint FX solutions dedicated to their clients in the Asian market.

    Backed by the Singapore-Israel Industrial R&D Foundation, or SIIRD, the two firms will produce a new series of forex solutions specific to Asian markets in a bid to enhance regional liquidity. Recognizing the need to have efficient access to the best pricing capabilities and market liquidity, the cooperation also centers on providing market participants with improved connections to FX venues, bridging the current gap, and facilitates market making between the fragmented OTC and exchange-based regional liquidity pools.

     This initiative is one of many projects funded and sponsored by the SIIRD, which is a collaborative endeavour between the Singapore Economic Development Board and the Office of the Chief Scientist in Israel, to support joint projects between fintech companies from both countries.

    Snap Innovations was founded in 2011 to support Singapore and China exchanges by providing a multi-asset system and order execution to sell-side and buy-side clients.

    In turn, TradAir’s continued expansion in Singapore aims to tap into one of the largest FX nexuses in the world. Indeed, Singapore is the biggest FX centre in Asia and the third-largest globally after London and New York, according to the 2016 Triennial Central Bank Survey by the Bank for International Settlements.

    Chan Eng Chye, General Manager of SIIRD, commented: “We are very pleased to support TradAir and Snap Innovations, exemplary examples of Fintech companies in Singapore and Israel, in their joint research efforts to address challenges facing Asian financial participants. We look forward to supporting more of such collaborative R&D projects between innovative Fintech firms from Israel and Singapore”

    Michael Lim, Director of SNAP Innovations, also noted: “Asia is a rapidly growing FX region, and Singapore is the 3rd largest centre globally. This is great opportunity to partner with TradAir to jointly develop innovative FX solutions that address challenges facing Asian market participants.”

  • 29 Jun 2017

    Microsoft has signed a definitive agreement to acquire Cloudyn
    June 29 2017 – Official Micrososf Blog -
    Microsoft has signed a definitive agreement to acquire Cloudyn, an innovative company that helps enterprises and managed service providers optimize their investments in cloud services. As customers grow their cloud usage across many projects, it can be challenging to gain visibility and understand costs for existing projects, to optimize those investments and to project future usage. It is critical that customers have access to enterprise-grade management capabilities for detailed visibility into their Azure consumption, cost and performance in order to stay within budget and ensure business success.
    This acquisition fits squarely into our commitment to empower customers with the tools they need to govern their cloud adoption and realize the strategic benefits of a global, trusted, intelligent cloud. Cloudyn gives enterprise customers tools to identify, measure and analyze consumption, enable accountability and forecast future cloud spending.  As a Microsoft partner, Cloudyn has supported cost management for Microsoft Azure and other public clouds, helping customers continuously improve their cloud efficiency. Cloudyn customers have been able to optimize their cloud services usage and costs through automated monitoring, analytics and cost allocation. Since working with Cloudyn, one U.S.-based Fortune 500 customer has seen a 286 percent return on investment (ROI) with regard to their cloud efficiencies, demonstrating Cloudyn’s ability to help customers accelerate their cloud adoption. Cloudyn capabilities will be incorporated into our product portfolio that offers customers the industry’s broadest set of cloud management, security and governance solutions.
    We’re excited to bring the Cloudyn team and their technology to Microsoft. I look forward to seeing the impact their contributions will have on continuing to help our customers and partners accelerate their digital transformation with Azure.
    Sharon Wagner, the founder and CEO of Cloudyn, shares his thoughts on today’s news here.
    The closing of the acquisition is subject to regulatory approval.
  • 04 Sep 2017

    RT @LandingPadsAU: Thanks Ran Levitzky from Carmel VC, 1 of Israel's leading VC's. Great intro to the local ecosystem & #fintech insights.…
  • 22 Aug 2017

    Congrats to our portfolio company @RedisLabs on securing a $44M funding round led by Goldman Sachs! https://t.co/vyuoSjKGde via @Marketwired
  • 15 Aug 2017

    CellSavers rebrands as Puls, raises $25M to expand into the smart home. Congrats guys! https://t.co/SslBL1VBun via @VentureBeat @Pulscom

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Carmel Ventures is a venture capital firm, empowering early stage start-ups to become category leaders 

Founded in 2000, Carmel Ventures is managing over $800M across four funds. As Israel’s top tier VC firm, we invest in Israeli or Israeli related early stage companies and build global category leaders. Carmel invests across a number of key market segments including: software, new enterprise infrastructure, big data, digital media, consumer applications and semiconductors.

Our team approaches the investment as a proactive, hands-on endeavor. Carmel Ventures typically leads or co-leads investments and take an active role on the Board of Directors while keeping a low ratio of companies per partner. With strong M&A and IPO experience, the Carmel team has backed a disproportional share of Israel’s category leaders that generate hundreds of millions of dollars in annual revenues, including: Outbrain, ironSource, Payoneer, and more.



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