Sling

Company Overview

Snapshot

Founded in January 2013 by Erez Yerushalmi and Yacov Cohen, Sling operates with 1–10 employees. The company raised $1.6 million across two funding rounds before being acquired by Avante in July 2016.

Business overview

Sling develops a mobile payment solution designed to serve the micro-merchant sector, addressing the needs of over 200 million micro-businesses globally that are underserved by traditional financial systems. The company's core technology provides payment-enabled tangibles, such as bracelets, labels, and tags, which function as roving point-of-sale (POS) systems and offer access to various fintech capabilities called Pebbles. Sling operates within the Fintech & Insurtech sector, specifically focusing on money transfer and management, and serves small to medium-sized businesses (SMBs) and direct-to-consumer channels in markets like South America.

Strategic signal

Sling's acquisition by Brazilian micro-credit giant Avante in July 2016 highlights the strategic value placed on innovative mobile payment solutions for underserved markets. This event signaled a consolidation trend in the fintech space, where larger financial institutions sought to integrate agile startup technologies to expand their reach and service offerings to micro-merchants.

Company Intelligence Q&A

What is Sling's primary focus?

Sling focuses on providing mobile payment solutions for the micro-merchant sector, enabling small businesses to adopt advanced payment methods, unlock analytics, and leverage loyalty channels.

When was Sling founded and by whom?

Sling was founded in January 2013 by Erez Yerushalmi and Yacov Cohen.

What was a significant corporate milestone for Sling?

In July 2016, Sling was acquired by Avante, a Brazilian micro-credit giant, marking a key exit for the company.

How much capital did Sling raise?

Sling raised a total of $1.6 million across two funding rounds, with the last funding round in August 2014.

What markets does Sling primarily serve?

Sling primarily serves geomarkets in South America, targeting micro-businesses and SMBs.