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Just before the inauguration: $ 5 million exit for Bennett
The designated prime minister is expected to pocket millions of dollars after in 2006 he invested several hundred thousand dollars in the fintech company 'Pioneer', which is in the process of merging with the American wallet company FTAC Olympus Acquisition Corp at a value of about $ 3.3 billion
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Naftali Bennett
Exit
Fintech
Hi-Tech
Roast Greenberg
Monday, 07 June 2021, 15:57 Updated: 16:05
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Who needs champagne and cigars?
After sweeping the prime minister's throne with only 6 seats, the designated prime minister Naftali Bennett is also expected to register an exit of about $ 5 million on his investment in the Israeli fintech company Pioneer, in which he invested several hundred thousand dollars in 2006.
Pioneer reported last February that it would merge Into the American wallet company (SPAC) FTAC Olympus Acquisition Corp, which is traded on the Nasdaq US Stock Exchange, at a value of about $ 3.3 billion, which gives Bennett's holding in it currently a value of about $ 5 million.
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With such skills, maybe he should also be finance minister?
Naftali Bennett with the new-old partner (Photo: Knesset Spokeswoman, screenshot)
Bennett's fourth exit
This is the fourth exit that Bennett has recorded for his various activities and investments in the high-tech field, in addition to the $ 5 million he brought in after the sale of Cyota, which was one of its founders, in December 2005 to RSA for about $ 145 million; About $ 3 million he pocketed after Soluto was sold for about $ 120 million to the Assyrian company; And about $ 2.5 million he received from the sale of WiseStamp in 2019.
Pioneer was founded in 2005 by entrepreneur Yuval Tal, with the company's Israeli center managed by the Levy Foundation, after Bennett made an acquaintance with Tal. The company is currently active in about 190 countries and serves about 5 million customers, including the giant companies Amazon, Airbnb, Google, and Fiverr.
During 2020, Pioneer transferred about $ 44 billion on the technology platform it developed, which is a global infrastructure for managing international payments for large companies, enabling the safe transfer of payments between countries.
So far, Pioneer has raised about $ 270 million, while as of February this year the company had about $ 100 million in cash, and according to estimates, the company's revenue is expected to stand at about $ 432 million in 2021.
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