Assembly
Company

Last deal

$20M

Amount

Corporate Round

Stage

03.04.2017

Date

3

all rounds

$32.25M

Total amount

date founded

Financing round

General

About Company
Zai provides integrated financial services for mid-market and enterprise-level businesses.

Related to

Zai

Zai

Zai is a company that provides an online payment gateway system to simplify and automate payments for businesses.

Sector

Industrial Support Services

Subsector

Transaction Processing Services

Keywords

Financial Services, Payments, FinTech

Industry

Sector :

Subsector :

Keywords :

Also Known As

PromisePay

founded date

01.11.2013

Number of employees

Company Type

For Profit

Last funding type

Corporate Round

IPO status

Private

Description

Zai offers a suite of embedded finance products and services, including payments, foreign exchange, fraud management, and reconciliation. Their payment API simplifies complex payment workflows and facilitates fund transfers. Zai's consumer brand, CurrencyFair, focuses on global cross-border payments for individuals and small businesses. With a global regulatory footprint, CurrencyFair serves customers worldwide through its proprietary platform. Assembly Payments, now merged with CurrencyFair to form Zai, is a flexible payments platform that enables businesses to accept, manage, and disburse payments in various ways. Assembly removes the complexities of fraud, security, compliance, and customer service, providing businesses with extraordinary experiences and unlocking new business value.
Contacts
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M&A Details
1

Transaction name

Acquired by

CurrencyFair

announced date

11.04.2021

Financials

Funding Rounds
6
3

Number of Funding Rounds

$32.25M

Money Raised

Their latest funding was raised on 03.04.2017. Their latest investor Reinventure. Their latest round Corporate Round

Date 
Funding Round 
Investors 
Money Raised 
Lead 
Westpac

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Sector

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count Of Exists

1
Mark Harbottle

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Subsector

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Co-Investors
Investors
7
5

Number of lead investors

7

Number of investors

Investor 
Lead 
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Partners 
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Series A, Venture - Series Unknown
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Series A, Venture - Series Unknown
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Sector

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Subsector

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count Of Exists

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Mark Harbottle

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Matt Harbottle co-founded Melbourne-based SitePoint.com 10 years ago with Matt Mickiewicz, and grew it into a profitable, multi-million dollar company without any venture capital or outside funding. The company has been profitable every single month since its inception and is actively involved in publishing & marketplaces for Web Professionals. In 2008, Mark spun off 99designs out of SitePoint as its own separate business. 99designs has become the market leader in crowdsourced graphic design and currently sees a new graphic uploaded to the site every 7 seconds and pays out over $1,000,000 to designers every month. In April 2011 99designs received $35m in a Round A led by Accel Partners. 99designs has run crowdsourced design projects for tens of thousands of small business owners, as well as big brands like Adidas, TiVo, Dish Networks, and bestselling authors like Tim Ferriss and Rick Warren (author of “The Purpose Driven Lifeâ€). In June of 2009, Mark and Matt launched Flippa.com, a marketplace for buying and selling small websites via auction. Flippa currently sells over $2 million worth of website assets per month, with its biggest sale ever being ReTweet.com which sold for $250,000. In January of 2011, Learnable.com was launched, again as a spin off from SitePoint. Learnable is a peer to peer education platform where anyone can create an online course and sell access to it online.

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People

Founders
4
Darren McMurtrie
Darren McMurtrie

Darren McMurtrie

Darren is the Chief Experience Officer at PromisePay and oversees design, marketing and customer success. Under Darren’s guidance, PromisePay continues to create a frictionless and memorable experience for marketplaces, businesses and their customers. Darren has previously led design, branding and user experience initiatves in Australia, the UK and South East Asia for global organisations such as Standard Chartered Bank, AOL, Tesco, Nokia Siemens Network and ANZ Bank.

current job

Assembly
Assembly

organization founded

1

Darren McMurtrie

Victor Zheng
Victor Zheng

Victor Zheng

current job

mx51
mx51

Victor Zheng

Simon Lee
Simon Lee

Simon Lee

Simon is the Chief Executive Officer at PromisePay and drives the company’s finance, operations and sales. Under Simon’s strategic leadership, PromisePay continues to grow and offer a game changing alternative to the traditional world of online payments. Simon has previously led large scale transformational technology projects in Australia, UK, France, and the USA for global financial institutions such as AXA, EBS, Skandia and National Australia Bank.

current job

Patona
Patona

organization founded

1

Simon Lee

Simon Jones
Simon Jones

Simon Jones

Simon is the Chief Technology Officer at PromisePay and heads up technology, engineering and security. Under Simon’s direction, PromisePay continues to build an ultra fast and highly secure payments engine while growing the team to continually develop, maintain and improve it. Simon holds a Bachelor of Computing and an MBA, and has previously led large scale technology projects for Telstra, Ericsson, NEC, Fujitsu and GKN Aerospace.

current job

Assembly
Assembly

organization founded

1

Simon Jones

Employee Profiles
25
Rimal Gokani

Rimal Gokani

Chief Commercial Officer

Tim Dickinson

Tim Dickinson

General Manager

Mike Gouline

Senior data engineer

Hami Shoghi

Business development manager

Aaron French

General manager - enterprise and international

Victor Zheng

Victor Zheng

Co-Founder & Co-CEO

Ian Mcfaul

Concierge

Robert Farso

Financial planning and analysis manager

Activity

Recent News
0