About Optal
Optal is a Financial Services company based in Melbourne (Australia) founded in 2002, and was acquired by Wright Express in December 2020. It operates as a b2B payment processing solutions provider. Optal has completed 1 acquisition, including Invapay. Optal offers products and services including Fuel Cards, Benefits Administration, and Payment Processing. Its focus areas include FinTech, Payments, Business Payments and Online Payments. Its legal entity is WEX Inc. Its competitors include Stripe, Square, Flutterwave, PayU and Vanco Payment Solutions and 3 more; 5 of its 8 listed competitors have raised funding.
Company details
Optal was founded in 2002 in Melbourne, Australia, as a provider of B2B payment processing solutions in the fintech sector. eNett International was established in conjunction with Travelport to deliver business travel payment services. Virtual account numbers are offered by eNett, generating single-use MasterCards for secure partner payments. Regulation as an authorized e-Money institution is maintained by the UK Financial Conduct Authority, with operations centered on international B2B transactions.
- Investors
- Investments & Acquisitions
- Acquired byWright Express
(Dec 2020)
Products & Services of Optal
Optal offers a comprehensive portfolio of products and services, including Fuel Cards, Benefits Administration, and Payment Processing.
Cards for fuel purchases and fleet tracking services.
Platform for managing HSAs, FSAs, and COBRA accounts.
Tools for automating accounts payable and virtual cards.
Apps and channels of Optal
its YouTube channel WEX Inc has 2.12K subscribers and 30 videos.
Videos from Optal
The most watched videos on Optal's YouTube channel, WEX Inc (2.12K subscribers). Click a video to play it here.
More on WEX Inc.
Investors in Optal
Optal has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Wright Express.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Employee benefit administration and payment solutions are provided for enterprises. | 1983 | wexinc.com | Portland, United States |
Investor details for Optal
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Investments & Acquisitions by Optal
Optal has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Invapay.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Procure-to-pay automation is delivered for global vendor management. | invapay.com | Hertford, United Kingdom | 2008 | Mar 2017 | •••• |
Complete acquisition details for Optal
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Optal
3 dated milestones of Optal across 18 years, from founding to its latest funding, stage changes and deals.
- Founded Optal is founded.
- Acquisition Acquires Invapay.
- Exit Acquired by Wright Express.
Competitors of Optal
Optal has 8 listed competitors in our database, 5 of them funded. They include Stripe, Square, Flutterwave, PayU and Vanco Payment Solutions, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| stripe.com | 2009 | San Francisco, United States | $9.81B | 5,904 | Payment processing and card issuance solutions are provided for businesses. | |
| squareup.com | 2009 | San Francisco, United States | $519.75M | 11,372 | POS solutions are provided for retail businesses. | |
| flutterwave.com | 2016 | San Francisco, United States | $489.41M | – | Provider of payment processing solutions for businesses | |
| payu.com | 2002 | Amsterdam, Netherlands | $35.15M | 1,200 | Online payment processing and credit solutions are provided for businesses. | |
| vancopayments.com | 2007 | Atlanta, United States | $87M | 257 | Payment gateway solutions are provided for faith-based organizations and nonprofits. | |
| aciworldwide.com | 1975 | Omaha, United States | – | 4,732 | Digital payments are processed and managed via specialized solutions. | |
| cybersource.com | 1994 | Foster, United States | – | – | Global e-commerce payment processing and security services are managed. | |
| wirecard.com | 1999 | Aschheim, Germany | – | 4,989 | Payment processing solutions are provided for businesses and merchants. |
Detailed competitors of Optal
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Payments & Remittance Platforms
10 companies that operate in the same segment as Optal (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Ride-hailing and on-demand delivery services are aggregated via mobile app. | 2012 | Singapore, Singapore, Singapore | USD 10.38 B | USD 3.37 B | 57,733 | |
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 2.81 B | USD 1.05 B | 39,368 | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | USD 950.07 M | 12,265 | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | 16,622 | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 741.62 M | USD 302.19 M | 2,850 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | – | 6,209 | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, North Holland, Netherlands | USD 35.15 M | USD 5.47 B | 3,355 |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Optal
Complete news archive for Optal
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Optal
Optal was founded in 2002.
Optal is headquartered in Melbourne, Australia. It is registered at Melbourne, Victoria, Australia.
Optal was founded in 2002 in Melbourne, Australia, as a provider of B2B payment processing solutions in the fintech sector. eNett International was established in conjunction with Travelport to deliver business travel payment services. Virtual account numbers are offered by eNett, generating single-use MasterCards for secure partner payments. Regulation as an authorized e-Money institution is maintained by the UK Financial Conduct Authority, with operations centered on international B2B transactions.
Optal's top competitors include Stripe, PayU and Flutterwave.
Optal offers Fuel Cards, Benefits Administration, and Payment Processing.
Optal has made 1 acquisition, including Invapay.
Optal has 1 investor. Key investors include Wright Express.
Optal operates through Wex Inc.
Yes. Optal was acquired by Wright Express in December 2020.