CTech: Apax Partners Israel Invests in Global-e
Apax Partners Israel Invests $20 Million in Global-e – Based in Israel with European and North American headquarters, Global-e develops services for online retailers
Apax Partners (Israel) Ltd., a subsidiary of London-based private equity firm Apax Partners Worldwide LLP, is investing $20 million in Israel-based e-commerce company Global-e Online Ltd., the company announced on Sunday. This brings Global-e’s total equity funding to $55 million.
In 2016, Global-e raised $20 million in a round led by Red Dot Capital Partners, an Israel-based venture capital fund backed by Singapore’s governmental holding company Temasek. Other investors include German courier service DHL.
Founded in 2013 and based in Tel Aviv suburb Petach Tikva, Global-e develops a service offering online retailers currency conversions, pre-payment of local taxes, and various payment options. The company also operates local logistics centers for retailers entering new international markets.