PayBox Payment Solutions
Collaborative Payment Platform
Company Overview
Snapshot
Founded in January 2014, PayBox Payment Solutions had 51–200 employees. The company was acquired by Discount Capital in May 2017, ceasing operations in July 2020.
Business overview
PayBox Payment Solutions developed a collaborative payment platform enabling groups and individuals to collect and transfer funds, and make purchases instantly and securely via mobile devices. The technology facilitated direct peer-to-peer interaction without intermediaries. Its 'PayBox as a Marketplace' feature allowed merchants to offer goods and services to user groups, utilizing machine-learning algorithms to optimize matching and conversion rates. The company operated within the Fintech & Insurtech sector, focusing on money transfer and management for consumers.
Strategic signal
In July 2020, PayBox Payment Solutions announced its shutdown as a business entity, despite the PayBox payment app continuing operations in Israel. This event signaled a significant strategic shift, indicating the company's core business model or market approach was no longer viable, leading to its cessation of independent operations following its acquisition.
Log in to access full profile ›Company Intelligence Q&A
- What is PayBox Payment Solutions' primary offering?
- PayBox Payment Solutions provided a collaborative payment platform that allowed groups and individuals to collect and transfer funds and make purchases using their mobile devices, facilitating direct peer-to-peer interactions.
- When was PayBox Payment Solutions founded?
- PayBox Payment Solutions was founded in January 2014.
- What was the status of PayBox Payment Solutions in May 2017?
- In May 2017, PayBox Payment Solutions was acquired by Discount Capital. Following the acquisition, the company ceased to operate as an independent entity.
- What was the outcome for PayBox Payment Solutions in July 2020?
- In July 2020, PayBox Payment Solutions officially shut down as a business entity, although the PayBox payment app continued to operate in Israel.
- Which investor participated in a funding round for PayBox Payment Solutions?
- In November 2015, Moneta VC participated in a funding round for PayBox Payment Solutions.