Neema

The company's trajectory shifted when the internal payment network it built for its B2C operations demonstrated exceptional reach and high success rates. Recognizing the network's potential, Neema pivoted to a B2B model, offering its infrastructure to other financial institutions. In 2019, the company was acquired by the Direct Insurance group, and in January 2022, it was acquired by IDI Direct Insurance, now operating as a subsidiary. Over the years, it has secured investments from entities like Y Combinator, Bank Hapoalim, and Bank Discount's investment arm, Discount Capital.

Neema's core business now is providing a real-time, cross-border payment network for banks, Electronic Money Institutions (EMIs), and other financial institutions. This service is delivered through a robust API that allows clients to integrate and access Neema's extensive network, which spans over 150 countries and supports more than 50 currencies. The platform enables real-time or same-day payments through various methods, including bank transfers, digital wallets, and cash pickup locations. A key feature is its dynamic routing technology, designed to ensure high transaction success rates. For individual users, Neema still offers a digital, multi-currency account accessible via a mobile application. This account allows users to hold funds, exchange currencies, and send money globally. Linked to this digital account is an international Mastercard, enabling users to make purchases online, in stores, and withdraw cash from ATMs worldwide.

Revenue for its initial service was generated through a flat 1% fee on transactions. The company's current B2B model generates revenue by providing its payment network as a service to business clients. The platform emphasizes security and compliance, utilizing AI for advanced AML and transaction monitoring. Neema is fully licensed and regulated by the Capital Market Authority, Insurance and Savings in Israel. Keywords: cross-border payments, fintech, financial institutions, payment network, B2B payments, remittance, API integration, global payments, digital wallet, multi-currency account, international money transfer, EMIs, foreign exchange, payment processing, financial inclusion, Tel Aviv, Moshe Kimhi, mobile banking, secure payments, compliance technology