Leta's exit: Nayax Ltd. (TASE: NYAX) acquires Weezmo
14 July 2021Leta Capital is happy to announce the first exit from Leta Capital Fund II, its portfolio company Weezmo was acquired by Nayax Ltd. (TASE: NYAX), the leading cashless solution provider. Leta Capital was a lead investor in the previous round, investing $1.5 mln in 2018.
Weezmo is a technology startup focused on connecting the online customer journey with in-store purchases, generating improved customer experience and increased sales for merchants. Nayax is a global retail enablement platform designed to help merchants scale their business, it went public May, 2021. With the help of Weezmo technology, companies can link their online marketing efforts to physical purchases at points of sale. This tracks the complete purchasing process, while measuring the impact of digital advertising on all online and offline sales. Using AI, Weezmo customers gain a better understanding of consumers and campaign effectiveness, leading to increasing sales. This all results in significant increases in ROI, thanks to the ability to link all the information from the store to consumer behaviour online and translate business insights into practical execution. The digital receipt itself is an engaging experience for the consumer, containing customized sales offers, games, feedback, video and more.
Weezmo’s customers are based in Israel and throughout the world, and include such well-known brands as Super-Pharm, Office Depot, McDonald’s, IKEA, H&O, Mahsanei Hashmal, Factory 54, Pizza Hut and H&M. With Nayax established and selling in over 65 countries, the goal is to continue expanding Weezmo activity significantly into markets around the globe. These customers have enjoyed the results yielded by integrating Weezmo’s technology into their customer journey map. Client companies are seeing improved customer ordering while happily reducing waste to shrink their environmental footprint.
Weezmo was founded in 2015 by Shai Raiten and Sasha Glazman, programmers whose professional paths crossed several times over the years. While the initial idea for Weezmo was to address the problem of paper receipts and their impact on the environment, over time, the concept grew into its current incarnation.
“We are very excited to join Nayax,” says Shai Raiten, CEO of Weezmo. “Weezmo is a complementary solution to Nayax's advanced payment service and is therefore an ideal partner to fulfill all of Weezmo’s capabilities: a one-stop shop solution for retailers that allows them to accurately measure technology. Nayax’s investment and global presence will enable Weezmo to reach new markets.”
“As Nayax expands into other markets and provides solutions to attended and semi-attended markets, we see the acquisition of Weezmo as an exciting technology solution to offer retailers, which dovetails perfectly with our existing portfolio of products and solutions,” comments Yair Nechmad, CEO, Nayax. “Shai Raiten and Sasha Glazman have developed a deceptively easy-to-use solution that promises to revolutionize the way businesses approach their online marketing of in-store purchases, and we’re excited to see the results.“