Western Union to acquire Israeli fintech GMT for over $66M
What's the deal? Western UnionDealroom has a profile for this one. Try Dealroom → will acquire Israel-based fintech GMTDealroom has a profile for this one. Try Dealroom → in a transaction valued at more than $66 million. GMT, founded in 2001, provides international money transfers and payment solutions for Israelis, migrant workers, and their employers.
What changes? GMT will become part of Western Union but keep its Israeli brand. Chief executive officer Eran Sarouk will continue to lead operations after the deal closes.
Why it matters: GMT operates under a license from the Israel Securities Authority and holds a banking identification code from the Bank of Israel — regulatory footholds that give Western Union deeper access to the local market. Sarouk framed the deal as a chance to plug GMT's technology into Western Union's global network.
What's the endgame? "This marks a brand-new chapter for GMT, unlocking global opportunities, expanding our capabilities, and accelerating our growth," the company said on LinkedIn. For Western Union, the acquisition strengthens its position in cross-border payments, a market where regional specialists remain valuable acquisition targets.
What else is moving? The deal lands amid a busy stretch for Israeli fintech. Tangos AI, a startup founded in 2025 that builds autonomous AI tools for financial crime, fraud, and compliance investigations, raised $20 million in seed funding led by Red Dot Capital PartnersDealroom has a profile for this one. Try Dealroom →. Separately, MastercardDealroom has a profile for this one. Try Dealroom → expanded its partnership with Israeli fintech Neema to support its global money transfer platform, Mastercard Move.
The signal: Global payment giants are shopping in Israel. As cross-border transfers grow more competitive, incumbents like Western Union and Mastercard are buying or partnering with local players to acquire technology and regulatory access rather than build from scratch.
Read more: Finovate
