Simplex

Company Overview

Snapshot

Founded in April 2014 by Nimrod Lehavi, Netanel Kabala, and Erez Shapira, Simplex operates with 201–500 employees. The company raised $8.4 million across 3 funding rounds from 6 investors before being acquired by Nuvei Corp in May 2021.

Business overview

Simplex specializes in providing fraudless credit card payment solutions for online businesses. Utilizing artificial intelligence and machine-learning technology, its core product protects businesses against fraudulent chargebacks by analyzing payments and related data in real-time. The company guarantees approved transactions, covering chargebacks if they occur. Simplex also enables global customers to purchase Bitcoin with credit cards while safeguarding exchanges and brokers from fraud. It primarily serves the Fintech & Insurtech sector, operating within the payments, cryptocurrency, and blockchain categories.

Strategic signal

In May 2021, Simplex was acquired by Nuvei Corp for an estimated $250 million. This acquisition highlights the increasing consolidation within the fintech and cryptocurrency payment processing sectors, signaling a strong market demand for robust fraud prevention and seamless crypto-fiat gateways. For investors, this demonstrates the strategic value of companies that can bridge traditional finance with the burgeoning digital asset economy, offering secure and compliant solutions.

Company Intelligence Q&A

What was the most significant corporate event for Simplex?

Simplex was acquired by Nuvei Corp in May 2021 for an estimated $250 million, marking a significant exit for the company.

When was Simplex founded and by whom?

Simplex was founded in April 2014 by Nimrod Lehavi, Netanel Kabala, and Erez Shapira.

What was Simplex's total capital raised before its acquisition?

Simplex raised a total of $8.4 million across 3 funding rounds. Notable investors included Bitmain and FundersClub in a February 2016 round, and AGILE WINGS and Yaron Lemelbaum in a May 2014 seed round.

What was a key partnership for Simplex in the cryptocurrency space?

In January 2019, Simplex partnered with Binance to enable credit card payments for cryptocurrency purchases, furthering crypto adoption worldwide.

What strategic development did Simplex achieve in December 2020?

In December 2020, Simplex became a Visa Principal Member, enhancing its capabilities in the payments industry.