The Israel Infrastructure Fund purchased 44% of Pango at a value of NIS 550 million

The Israel Infrastructure Fund, managed by Yaron Kastenbaum, together with Harel Insurance, purchased 44% of Pango at a value of NIS 550 million. The deal was completed a few days ago. 5711 bought the shares from the Pantok company of the Weil family, from former barn owners.
The Weil family, which held 100% of Pango shares, will now go down to 56% and will continue to hold control. In 2011, Unicell from the former Cardan Technologies Group bought 50% of Pango for only NIS 15 million, and then sold them to the Weil family.
The Israel Infrastructure Fund is joined in the transaction by the Harel Insurance Company, which is the largest investor in the fund, and the businessman Zvi Barak - the owner of Caesarea Medical Electronics from Caesarea.
Roi Elbaz, CEO of Pango: “In the last decade, Pango has come a long way from a parking activation application to a company that provides a variety of solutions in the worlds of transportation. We look forward and are proud to lead the transportation revolution in Israel. "Elbaz notes that the Transport as a Service model has been gaining momentum in recent years and brings together significant values ​​in order to reduce traffic congestion, increase the utilization of existing resources (vehicles and infrastructure) and enhance the experience. The passenger significantly.
Elbaz added that "the connection between different platforms ranging from parking, through toll roads and public transportation to micro-carrier solutions and shared bikes and all in one place and with one means of payment as built in Pango has actually gone the model that will grow and develop significantly in the next decade."
Pango was established 13 years ago during which it grew and developed from a digital parking payment company to a leading company in Israel in the field of smart transportation with over 2.3 million users and transportation consumers. In recent years, Pango has expanded the technological platform and provides a comprehensive solution for passengers with a variety of information and payment solutions available and convenient.
In the past year Pango has significantly expanded its basket of solutions also for payment for refueling and purchase in convenience stores in partnership with Sonol, payment for public transport together with Mobit through the existing Pango account.
Pango has also expanded the Pango Simple route, which includes the advanced "moving" service that helps in automatic parking completion and reduces parking fees, fast payment in parking lots and other benefits.