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Nayax Ltd. is a global commerce enablement, payments, and loyalty platform that provides end-to-end retail technology solutions for both automated self-service commerce and attended retail environments. The company offers a comprehensive platform that combines payments, operations management, and customer engagement tools to help merchants scale their businesses, improve revenue potential, and enhance operational efficiency. Nayax sells SaaS solutions, payment processing services, and integrated POS devices to a diverse range of customers across various industries.
- Recurring Revenue (SaaS Revenue and Payment Processing Fees) - Generates monthly recurring fixed fees for access to telemetry and management software solutions, and fees for transactions processed using Nayax's platform.
- Revenue from Sale of Integrated POS Devices - Provides one-time revenues from the sale of integrated POS devices that streamline transactions and integrate with Nayax's SaaS and payment processing platform.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David Ben-Avi ExecutiveBoard | Chief Technology Officer | David Ben-Avi has served as co-founder, Chief Technology Officer, and Director at NYAX since 2005, playing a key role in shaping the company’s strategy and technological innovation. | ||
Yair Nechmad ExecutiveBoard | Chief Executive Officer (CEO) | Yair Nechmad has served as the CEO of Nayax Ltd. since 2005 and also holds the roles of Chairman of the Board and Chairperson of the Nominating and Corporate Governance Committee. | View Report → | |
Aaron Greenberg Executive | Chief Strategy Officer (CSO) | Aaron Greenberg has been serving as the Chief Strategy Officer at Nayax since February 2024. He is also the CEO of CoinBridge, a Nayax subsidiary, since January 2025, and previously held roles in finance and strategy at firms such as Tiberius Capital Markets and Wells Fargo. | ||
Boaz Ben David Executive | Vice President of Finance | Boaz Ben David has served as Vice President of Finance at NYAX since October 2021, previously serving as Chief of Staff to the CEO at the First International Bank of Israel and managing Audit and Advisory engagements at KPMG over 10 years. | ||
Eden Zafrani Executive | Chief Human Resources Officer | Eden Zafrani is the Chief Human Resources Officer at NYAX since June 2024; previously, he served as head of the commander's training department at the Israeli Defense Forces' city of training bases from 2021 to 2024, following nearly 20 years in various HR roles within the IDF. | ||
Ella Shechtman Executive | Chief Human Resources Officer | Ella Shechtman has served as Chief Human Resources Officer at NYAX since 2020, following her previous role as Vice President of Human Resources at NYAX. There is no record of her serving on any board or committee within NYAX. | ||
Erez Aminpour Executive | Chief Product Officer | Erez Aminpour is the Chief Product Officer at Nayax since June 2024, having previously served as VP Payment Solutions from 2022 to 2024 and Head of Payment Solutions from 2019 to 2022. | ||
Gal Omer Executive | Chief Legal Officer | Gal Omer has been serving as Chief Legal Officer at NYAX since August 2023, and previously served as Chief Compliance Officer and Co-Head of the Legal Department from June 2021 until August 2023. Her extensive legal and compliance background has contributed significantly to NYAX's operations. | ||
Keren Sharir Executive | President | Keren Sharir has served as Nayax's Chief Marketing Officer since 2014 and was promoted to President in August 2024. She has been instrumental in shaping the company's strategy during her tenure. | ||
Moshe Orenstein Executive | Chief Product Officer | Moshe Orenstein is the Chief Product Officer at NYAX since 2020. He previously served as the Head of Business Development at NYAX from 2018 to 2020. | ||
Moshe Shmaryahu Executive | Chief Information Officer | Moshe Shmaryahu is the Chief Information Officer at NYAX, a role he has held since November 2023. He has an extensive background in IT and operations, having served previously at the Union Bank of Israel and in various capacities within the Israel Defense Forces. | ||
Oded Frenkel Executive | Chief Customer Officer | Oded Frenkel serves as the Chief Customer Officer at NYAX since 2016 and previously served as integration manager at the company. | ||
Oren Tepper Executive | Chief Commercial Officer | Oren Tepper serves as the Chief Commercial Officer at NYAX since January 2023, and he brings over a decade of sales leadership experience from his previous roles at Space Communications Ltd. and CyberGym Control Ltd. | ||
Oren Viner Executive | Vice President of Research and Development (R&D) | Oren Viner has served as the Vice President of Research and Development at NYAX since 2022, and previously held roles at Marvell Technology, Inc. from 2001 to 2022, including positions as director of switching SDK and director of networking turnkey solutions. | ||
Sagit Manor Executive | Chief Financial Officer | Director at Tigo Energy Inc. | Sagit Manor has served as the Chief Financial Officer of Nayax Ltd. since June 2021. Previously, she held executive roles at Nyotron as CEO and CFO, served as VP of Finance/CFO at Verifone Inc., and is currently a director at Tigo Energy Inc.. | |
Tami Erel Executive | Chief Business Operations Officer | Tami Erel has been the Chief Business Operations Officer at NYAX since 2017 and previously served as the Vice President of Payment Operations from 2015 to 2017. Prior to her roles at NYAX, she developed extensive financial expertise through her work at Eden Springs and academic credentials in Business and Economics and Law. | ||
Yaron Aharon Executive | Chief Operating Officer (COO) | Yaron Aharon has served as the Chief Operating Officer (COO) at NYAX since March 2023; he previously held the position of COO at Orpak Systems. | ||
Eran Havshush Board | Board Director | Partner at A. Omer & Co. | Eran Havshush has served as a board director at NYAX since July 2024 and has been a consultant since 2012, with previous experience as an auditor from 2006 to 2009. | |
Nir Dor Board | Director | Managing Partner at NET Capital Ventures | Nir Dor has served as a board member and director at NYAX since December 2022. He is also a member of the audit committee and remuneration committee, underscoring his extensive financial and management expertise. | |
Reuven Ben Menachem Board | Member of the Board of Directors | Founder and former CEO of Fundtech; Chairman of several boards of directors of fintech companies and social ventures | Reuven Ben Menachem has served as a board member at NYAX since 2021 and participates in the nominating and corporate governance committee alongside Yair Nechmad and David Ben-Avi. He is the founder and former CEO of Fundtech and currently chairs several boards of directors of fintech companies and social ventures. | |
Rina Shafir Board | Board Director | Rina Shafir has served as a board director at NYAX since 2021, serving as an external director with her term expiring in July 2027 while also chairing the remuneration committee and participating in the audit committee. | ||
Vered Raz Avayo Board | Board Member & Audit Committee Chair | CEO of Amor Business Development and Consulting Ltd; Director at Apollo Power Ltd; Director at Foresight Autonomous Holdings Ltd; Director at Shikun & Binui Energy Ltd | Vered Raz Avayo has served as a board member at NYAX since 2021 and chairs the audit committee, ensuring robust financial oversight. Additionally, she is a member of the remuneration committee. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
VMtecnologia LTDA. | 2024 | Completed on April 30, 2024, this deal involved an initial cash payment of approximately $12.762 million along with contingent earnouts potentially bringing the total to about $27 million USD. It strategically expands Nayax into Latin America by leveraging VMtecnologia’s established footprint across Brazil—serving over 2,400 retailers—and its technology for autonomous stores. |
Roseman Engineering Ltd. | 2024 | Completed on April 1, 2024, the acquisition valued at around $5.675 million combined cash, deferred consideration, and share issuance, bolsters Nayax’s smart system offerings for refueling, charging stations, and fleet management. The deal enhances its capabilities in the EV charging and fuel services sectors, with working capital adjustments and provisional accounting terms noted. |
Retail Pro International | 2023 | Completed in November 2023 for an implied enterprise value of $36.5 million (cash-free, debt-free), this acquisition—financed with an initial $20 million cash payment and deferred earnouts—significantly extends Nayax’s global footprint by adding 150,000 point-of-sale lanes across over 100 countries and enhancing its retail POS software integration. |
On Track Innovations Ltd. (OTI) | 2022 | Through a combination of loans (starting with $5.5 million) and a reverse triangular merger executed with a $4.5 million cash consideration, Nayax acquired OTI, making it a private wholly-owned subsidiary to integrate operations and strengthen its business. The deal included secured financing terms, additional loans, and various guarantees to support OTI’s working capital and supplier obligations. |
Recent press releases and 8-K filings for NYAX.
- Historical and Financial Performance Update: Nayax, founded in 2005 and public in Israel (2021) and the U.S. (2022), reported strong 2024 performance with $314M revenue, 45% margins, and nearly 70% recurring revenue.
- Diversified Portfolio and Scale: The company operates in 44 unattended verticals (including vending, EV charging, and parking), achieving milestones like 100,000 customers and managing 1,330,000 devices.
- Embedded Payment Innovation: Nayax is advancing its embedded payment solutions with the launch of the UNO Mini device, aimed at lowering hardware costs for OEMs and enhancing EV charging payment integration, highlighted by a new partnership with Linkwell.
- Global Expansion and M&A Strategy: The firm is pursuing geographic expansion, notably through acquisitions in Latin America (VM Technologia and UpPay) and establishing a new office in Singapore to penetrate Southeast Asia.
- Offering Completion: Nayax completed its Notes and Warrants Offering in Israel by selling 486,291 units at NIS 1,021 per unit, achieving gross proceeds of NIS 496.5 million and net proceeds of approximately NIS 486.2 million to fund general corporate purposes including debt repayment and potential acquisitions.
- Issuance Terms: Each unit consisted of a NIS 1,000 principal amount of Notes with a fixed annual interest rate of 5.9%, and included three Warrants exercisable into one ordinary share at an exercise price of NIS 177.80, with detailed maturity and repayment terms specified.
- Nayax announced a Notes and Warrants offering to Classified Investors, where each unit consists of NIS 1,000 principal of Notes and three Warrants.
- The company accepted subscriptions for 486,291 units at NIS 1,021 per unit, raising approximately NIS 496.5 million (about $137.5 million) in gross proceeds, with net proceeds of around NIS 486.3 million ($134.7 million) targeted for corporate purposes including debt repayment and acquisitions.
- Full-year 2024 revenue reached $314.0 million with recurring revenue growing 47% YoY, underscoring strong integrated POS sales performance.
- Q4 revenue increased 34% to $89.0M, with recurring revenue rising 49% to $62.9M and constituting 71% of total Q4 revenue.
- Profitability improved with FY Adjusted EBITDA of $35.5 million and Free Cash Flow of $18 million, complemented by Q4 Adjusted EBITDA of $12.8M and enhanced gross margins.
- Looking ahead, 2025 guidance projects revenue of $410–$425 million and adjusted EBITDA of $65–$70 million.