Advanced Search

Start-Up Gets Funds for Payment App

Nov 20, 2017 9:23 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... An Israeli start-up is set to receive up to $1.2 million from investors to launch a mobile payment app that will help diamond traders close deals on the spot, without needing to wait for funds to clear.

Mazalit will enable users to finalize payment in under 10 seconds, with about 90% lower fees than most dealers currently have to pay when wiring money across borders, its founder and CEO Ze’ev Maimon told Rapaport News Monday.

The Ramat Gan-based company’s lead investment for this funding round has come from diamond logistics firm Malca Amit, with additional backing from Ari Wolff, formerly of polished manufacturer Leo Schachter. The start-up is talking to potential investors who may provide further financial input. It plans to bring the app to the market in early 2018.

Maimon founded the company last year together with chief technology officer Ben Yaniv Chechik, a co-founder of money-transfer group Payoneer.
Tags: Ari Wolff, Ben Yaniv Chechik, Israel, Leo Schachter, malca amit, Mazalit, payment, Payoneer, Ramat Gan, Rapaport News, startup, Ze’ev Maimon
Similar Articles
Gateway of IndiaIndia Cracks Down on Rough Shipments
May 26, 2019
India’s diamond trade is in a fight with authorities over stricter customs enforcement for rough that could
National Bank of Fujairah Antwerp launch April 201Dubai’s NBF Enters Antwerp Lending Market
Apr 07, 2019
The National Bank of Fujairah (NBF) has launched a representative office in Antwerp as it looks to expand its business
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.