Papaya Global, which has developed a global payroll management system, has raised $ 250 million at a value of $ 3.7 billion. This is a significant jump in the value of the company - compared to a value of $ 1 billion raised last March. The raising was led by the venture capital funds Tiger Global, which is its first investment in the company and the Insight Partners fund, which has invested in the company in the past. Also among the investors in the current round are also Samar Venture and Group11.
Papaya was founded in 2016 by Einat Gaz, who serves as the company's CEOs, Reuven Drong and Ofer Herman. To date, the company has raised $ 440 million, and since September 2020, the company's value has soared 10 times.