Company Overview
Snapshot
Founded in October 2015 by Eugene Grekov and Yosi Morik, GATE operated with 1–10 employees. The company secured $3.2 million across one funding round from two investors. In April 2018, GATE closed a seed round.
Business overview
GATE (Global Acceptance Transaction Engine) provides a solution that enables eWallet payments to be accepted globally without requiring merchant integration. The core technology converts eWallet transactions into card transactions by generating a unique, single-use 16-digit card number for each transaction, enhancing security. GATE aims to revolutionize the payment industry by facilitating global eWallet acceptance for online and physical merchants, eliminating integration needs and minimizing card fraud risk. The company operates in the Fintech and eCommerce sector, serving financial institutions and enterprises in geomarkets including East Asia, Southeast Asia, Europe, and the United States.
Strategic signal
In April 2018, GATE successfully closed a $3.2 million seed funding round. This capital infusion demonstrated investor confidence in GATE's innovative approach to eWallet acceptance and its potential to disrupt the payment industry by offering a secure, integration-free solution for global transactions.
Log in to access full profile ›Company Intelligence Q&A
- What is GATE's primary offering?
- GATE provides a solution that allows eWallet payments to be accepted worldwide without requiring merchant integration. It converts eWallet transactions into card transactions using unique, single-use 16-digit card numbers for enhanced security.
- When was GATE founded and by whom?
- GATE was founded in October 2015 by Eugene Grekov and Yosi Morik.
- What was a significant funding milestone for GATE?
- In April 2018, GATE closed a $3.2 million seed funding round, with investment from Orco Investments.
- What is the operational status of GATE?
- GATE is currently non-active, having ceased operations in July 2019.
- Which markets does GATE target with its payment solutions?
- GATE targets geomarkets including East Asia, Southeast Asia, Europe, and the United States, aiming to enable global acceptance of eWallet systems.