Yuval Tal Has Joined Lool Ventures in Investing in Tactus Mobile Solutions Which Raised $1.5 Million

    NEW YORK, NY, October 20, 2011 /24-7PressRelease/ -- Angel investor Yuval Tal has joined the venture capital company Lool Ventures in investing in Tactus Mobile Solutions first financing round. The start-up raised $1.5 million in this round of financing, to be invested in completion of the development of the release version of its mobile payments app, scheduled to launch in November.

Internet trade and services is a strong market worldwide today, and Payoneer, an international payment company based in New York, process payments totalling more than $500 million each year. Recently Payoneer added a local funds transfer solution to users in many countries, facilitating payment for these users and saving them the costs of exchange rates from local currency. Making use of prepaid debit MasterCard cards, and eliminating the need for users to have bank accounts, Payoneer provides a solution to some 75% of the online population outside of the United States. Smartphones have added a new dimension to online shopping, with a population of users buying and selling from their mobile phones rather than their computers. This, in turn, has opened a new field to be addressed - that of mobile payment via the smartphone. Although there has been talk of making the smartphone a "mobile wallet", this has not actually happened yet. For Yuval Tal president of Payoneer, this service complements that offered by Payoneer, the essence of which is quick and efficient transfer of funds between people and/or organizations, wherever they are in the world.

Tactus was founded in July 2010 by current CEO Oren Levy, Ronen Morecki, today CTO, and two others. The original application developed by Tactus was for end-users, but the company soon realised that change was required, as approaching end users would be too slow. They changed direction to development of an application that can be installed by any business or on any website. The app can be installed on a smartphone, and enables payment from the phone with a low clearing cost.

Yuval Tal, founder of Payoneer, has more than 20 years of experience in technology start-ups and e-commerce. Today he is regarded as an expert in the fields of currency exchange, prepaid credit card applications and security technology. Tal was involved in a number of Israeli technology based companies prior to his involvement in Payoneer. He co-founded E4X in 1999, which was an early provider of a service for Internet payments and went on to become FiftyOne, a recognized leader in the e-commerce market with a turnover of more than $500 million per year. Earlier in his career Yuval Tal served as General Manager of R-U-Sure, and at the start of his career was the VP of Business Development at the NASDAQ Company, Radware, a world leader in application delivery and security for networking. Payoneer has its headquarters in New York and maintains R&D facilities in Israel.

Yuval Tal was born and educated in Israel. He has engineering-based bachelor's and master's degrees from Tel Aviv University. In his spare time, Yuval Tal enjoys sports and is also a keen photographer.

Read more on:
Yuval Tal's LinkedIn resume
Yuval Tal's lecture at the Take Charge Summit

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