Insurance startup Spott has been acquired

Payoneer , a commerce technology company, has bought Spott , an insurance startup from Israel. As part of the transaction, Spott’s co-founders, CEO Amit Batzir and CTO Roma Bronstein will join Payoneer’s Technology team, also based in Israel.

Founded in 2022, Spott introduced Pay-As-You-Sell insurance. This means that people who sell things online only pay for insurance based on how much they sell. It raised over $8 million and has partnerships in place with The Hartford and Next Insurance, to name two.

“Today’s announcement is part of Payoneer’s commitment to investing in AI and data to provide unique and seamless experiences for our customers. We look forward to seeing the impact that these capabilities will have on Payoneer customers. Spott has built a strong solution, and as part of Payoneer, this innovative technology will be available to SMBs in nearly 200 countries and territories.” – Assaf Ronen, Chief Platform Officer at Payoneer.

Bottom Line: An exit followed by a non-entry.