Simplex Overview
Simplex facilitates fraudless credit card payments for goods and services sold online. It protectsonline businesses against fraudulent chargebacks, using artificial intelligence and machine-learning technology. Simplex analyzes payments and related data and decides whetherthey are safe for processing, using a real-time machine-learning system. A Simplex-approved transaction is guaranteed; the merchant can safely supply the product to the customer, knowing there won't be a chargeback and that, if there is, Simplex will cover it. Simplex also enables worldwidecustomers to purchase Bitcoin with their credit card while fully protecting exchanges and brokers from fraud chargebacks.
Cumulative Funding Raised Over Time ($)
$7.0MFeb 2016
$8.0MMay 2014
Latest News
growth-positive
Nuvei acquires Israeli fintech co Simplex for $250m
Nuvei Corporation, a Canadian payment technology company, has announced its acquisition of Israeli fintech startup Simplex for $250 million in cash. Simplex provides a secure infrastructure for clearing cryptocurrency transactions. The acquisition is expected to close in the second half of 2021, subject to regulatory approval. Simplex was founded in 2014 and has raised $18 million from private investors. The acquisition will provide Nuvei with an electronic money institution (EMI) license to offer IBAN accounts to end users and corporations.
Acquisition
growth-positive
Israeli crypto startup Simplex set to be acquired for $200-$250 million by Canada's Nuvei
Israeli company Simplex, which provides fiat infrastructure for the cryptocurrency ecosystem, is in advanced negotiations to be acquired by Canadian payment processing giant Nuvei for between $200-$250 million. The deal is set to be officially completed in the coming days. Simplex offers online payment processing and fraud protection exclusively for the cryptocurrency industry. Nuveis proprietary platform offers direct connections to all major payment card schemes in over 200 markets worldwide.
Acquisition
growth-positive
Payments Firm Simplex Becomes Visa Principal Member
Israel-based payments processor Simplex has become a principal member of the Visa network, allowing it to issue Visa cards and provide consumers with access to digital currencies. Simplexs partnership with Visa enables simple, secure, and compliant conversions between crypto and fiat, and the ability to spend these funds at Visas network of over 60 million merchants. Simplex, which launched its platform in 2014, also made Hedera Hashgraphs native cryptocurrency HBAR available for purchase through its platform.
PartnersCustomers
growth-positive
Israel's Simplex launches banking solution to boost global crypto adoption
Simplex has launched Simplex Banking, a solution that enables crypto exchanges and wallets to simplify the buying and selling of crypto assets. The product provides crypto wallets, exchanges, and outlets the ability to offer popular local and global payment methods to their users. Simplex Banking also offers one-click deposits and a fast document submission process. In the recent soft launch, millions of Euro were deposited to buy and sell crypto assets. Simplex aims to meet the growing needs of the market for easy and safe transactions with no maximum limits and a range of payment options.
CustomersPartners
Simplex adds support for Bitcoin SV across global network
| Sector | Fintech & Insurtech |
Funding
| Total funding | $8.4M |
| Last funding | $7M |
| Stage | Acquired |
| Rounds | 3 |
| Investors | 6 |
Team Members
9
Employees: 201-500
Web & Social Links
| Website | www.simplex.com |
| Careers | Careers page |
Locations
Ariel Sharon Street 4, Giv'atayim, Israel
Photos & Videos
1 item(s)
Simplex Business
Business models
B2B
Product stage
Released
Employees
201-500
Sector
Fintech & InsurtechMoney Transfer & ManagementTarget Customer
ConsumersProfessionals & Gig EconomyOnline RetailersFinancial ServicesFinancial InstitutionsCore Technology
Platforms & InterfacesSoftwareMobileData StorageDLT & BlockchainTags (16)
credit-cardssoftware-applicationspaymentstransactionsweb-platformcryptocurrencybitcoinfintechauthenticationblockchainmobile-paymentsonline-retailersmachine-learningartificial-intelligenceretailersdigital-walletGeographic Markets
EuropeSimplex Financials
$8.4M
Total funding
Undisclosed
Capital raised
$7M
Last funding
Acquired
Funding stage
3
Total rounds
6
Investors
Cumulative Funding Raised Over Time ($)
$7.0MFeb 2016
$8.0MMay 2014
Private Equity Funding
A Round
Feb 2016
$7M
Bitmain, FundersClub, Cumberland Mining
Seed
May 2014
$1M
AGILE WINGS, Yaron Lemelbaum, DRW
Non-Equity Funding
GrantEvent
Mar 2015
$400K
Office of the Chief Scientist
Public Offering / Exit
MNAEvent
May 2021
$250M
Simplex Lifecycle
Cumulative Funding Raised Over Time
$7.0MFeb 2016
$8.0MMay 2014
All Events
A Round
Feb 2016
$7M
Bitmain, FundersClub, Cumberland Mining
Seed
May 2014
$1M
AGILE WINGS, Yaron Lemelbaum, DRW
GrantEvent
Mar 2015
$400K
Office of the Chief Scientist
MNAEvent
May 2021
$250M
Simplex News
11 articles
growth-positive
Nuvei acquires Israeli fintech co Simplex for $250m
Nuvei Corporation, a Canadian payment technology company, has announced its acquisition of Israeli fintech startup Simplex for $250 million in cash. Simplex provides a secure infrastructure for clearing cryptocurrency transactions. The acquisition is expected to close in the second half of 2021, subject to regulatory approval. Simplex was founded in 2014 and has raised $18 million from private investors. The acquisition will provide Nuvei with an electronic money institution (EMI) license to offer IBAN accounts to end users and corporations.
Acquisition
growth-positive
Israeli crypto startup Simplex set to be acquired for $200-$250 million by Canada's Nuvei
Israeli company Simplex, which provides fiat infrastructure for the cryptocurrency ecosystem, is in advanced negotiations to be acquired by Canadian payment processing giant Nuvei for between $200-$250 million. The deal is set to be officially completed in the coming days. Simplex offers online payment processing and fraud protection exclusively for the cryptocurrency industry. Nuveis proprietary platform offers direct connections to all major payment card schemes in over 200 markets worldwide.
Acquisition
growth-positive
Payments Firm Simplex Becomes Visa Principal Member
Israel-based payments processor Simplex has become a principal member of the Visa network, allowing it to issue Visa cards and provide consumers with access to digital currencies. Simplexs partnership with Visa enables simple, secure, and compliant conversions between crypto and fiat, and the ability to spend these funds at Visas network of over 60 million merchants. Simplex, which launched its platform in 2014, also made Hedera Hashgraphs native cryptocurrency HBAR available for purchase through its platform.
PartnersCustomers
growth-positive
Israel's Simplex launches banking solution to boost global crypto adoption
Simplex has launched Simplex Banking, a solution that enables crypto exchanges and wallets to simplify the buying and selling of crypto assets. The product provides crypto wallets, exchanges, and outlets the ability to offer popular local and global payment methods to their users. Simplex Banking also offers one-click deposits and a fast document submission process. In the recent soft launch, millions of Euro were deposited to buy and sell crypto assets. Simplex aims to meet the growing needs of the market for easy and safe transactions with no maximum limits and a range of payment options.
CustomersPartners
Simplex adds support for Bitcoin SV across global network
growth-positive
Simplex CEO: Crypto Can't Beat Banks--But it Can Make them Better
Nimrod Lehavi, co-founder and CEO of Simplex, has said that Facebooks Libra project could be the catalyst for regulatory change in the cryptocurrency industry. Lehavi said that Simplex, which enables users to buy and sell cryptocurrencies with a credit or debit card, has been working with regulators since it was founded five years ago. He added that the company is in constant communication with the European Central Bank and only handles fully regulated activities.
CustomersPartners
growth-positive
Binance Enables Credit Card Payments Through Simplex Partnership, Furthering Crypto Adoption Worldwide Binance Blog
Binance has announced a partnership with payment processing company Simplex, allowing users to buy cryptocurrencies with credit cards directly on Binance.com. This partnership supports the broader use and accessibility of cryptocurrency worldwide. Binance, as the largest crypto exchange by trade volume, aims to bridge the gap between credit card payments and crypto for traders globally. Through Simplex, users can now use Visa and MasterCard to buy BTC, ETH, and LTC cryptocurrencies on Binance.com. This partnership is part of Binances expansion into global markets and its efforts to increase adoption and introduce crypto to more users.
Partners
growth-positive
Simplex Launches Payments Processing for ICOs Finance Magnates
Simplex, a payment processing start-up, will provide its services for companies launching initial coin offerings (ICOs). The company, founded in 2014, initially focused on providing payment processing services to the crypto industry. It has since expanded its services to any merchant using online payment services. Simplex has raised close to $10 million in funding and is now profitable. The announcement of supporting ICOs organized by familiar companies indicates the companys continued interest in the crypto industry. This move aims to reduce constraints imposed by on-boarding due diligence.
PartnersExpand
growth-positive
Thieves Have it Easy with Bitcoin, Says Anti-Fraud Entrepreneur
Simplex, a startup that enables users to purchase bitcoin with a credit card with a fraud protection guarantee, is experiencing positive growth. The company was founded in 2014 by Nimrod Lehavi and two former employees of Paypal. Simplex offers online payment processing and fraud protection exclusively for the cryptocurrency industry. The company has raised around $9 million in total equity funding and is preparing to provide customers with the ability to exchange bitcoin into fiat money in the future.
InvestmentExpand
Simplex Partners with Beacon - Risk Magazine's FinTech Start-Up of the Year
growth-positive
Simplex Raises $7 Million for Credit Card Bitcoin Buying Service
Israeli bitcoin startup Simplex has closed a $7m Series A funding round, bringing its total fundraising to $8.4m. The company enables bitcoin purchases with credit cards and focuses on fraud reduction to reduce the consequences of chargebacks for businesses. Simplexs customers benefit from a quicker way to sell bitcoin compared to wire transfers, and in the event of fraud or a chargeback, Simplex absorbs the cost. The company has processed over $3m in bitcoin purchases via credit card since its beta launch a year ago. Simplexs investors include Bitmain, Cumberland Mining, FundersClub, and a group of angel investors.
Investment
Simplex Team
Erez Shapira
Co-founder & CTO
Founder
Employee Info
| Employees (range) | 201-500 |
| Exact count | 311 |
| Team members | 9 |
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Simplex Internal
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Admin Info
| Confidence | 100/100 |
| Missing | markets |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515073419 |
| Crunchbase | simplex-3 |
| Creator | Jenny Sotnik-Talisman |
| Creator email | genys30@yahoo.com |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | genys30@yahoo.com |
| Last update | 2021-06-02T00:00:00.000Z |
| Created | 2014-03-09T00:00:00.000Z |
| Claimed | Yes |
| Status detail | Acquired by Nuvei Corp on May, 2021 |