Payments provider Payoneer has agreed to become a public company through a merger with a “blank check” company, FTAC Olympus Acquisition Corp., Bloomberg reported. The deal values eCommerce heavy-hitter Payoneer at $3.3 billion.
Payoneer, a payments service provider for such companies as Airbnb and Amazon, is reportedly profitable and expects to pull in $432 million in revenues this year. The company processed more than $44 billion in payments last year.
Investors in Payoneer include Viola Ventures, Ping An, Greylock Partners, TCV and Wellington Management Co. The company, which works in over 200 nations and territories, was founded by Yuval Tal in Israel and is currently headed up by CEO Scott Galit.
FTAC raised approximately $755 million in an initial public offering (IPO) in August. It is headed up by Betsy Cohen, its chairman, and Ryan Gilbert, its CEO.
The special purpose acquisition company (SPAC) was formed to go on the hunt to buy an existing company or companies. It had been in discussions to bring in new investments to help with the Payoneer deal. The transaction also includes a $300 million PIPE, or a private investment in public equity.
“Payoneer is a wonderful example — and I’d be hard-pressed to reach for another one that is quite as well advanced, in which the adoption curves of consumers and the capacity of the technology have melded and merged quite so well,” Cohen told Bloomberg.
Payoneer’s deal follows a similar announcement from Paysafe Group, which agreed to go public by merging with a blank-check firm led by billionaire Bill Foley.
Sending and receiving money overseas can be lucrative for payments companies, but the pandemic has cut into that business. A big exception has been the explosion in eCommerce, including cross-border sales taking place all over the world.
Payoneer said it plans to expand its offerings after going public. “We’re excited to not only have a bigger balance sheet, but also a public currency,” Galit said to Bloomberg.
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Payoneer 將以 33 億美元與空白支票公司合併上市
據彭博社報導，支付提供商 Payoneer 已同意通過與一家“空白支票”公司合併，成為一家上市公司，FTAC Olympus Acquisition Corp.。這筆交易對電子商務巨頭 Payoneer 的估值為 33 億美元。
據報導，為 Airbnb 和亞馬遜等公司提供支付服務的 Payoneer 已實現盈利，預計今年的收入將達到 4.32 億美元。該公司去年處理了超過 440 億美元的付款。
Payoneer 的投資者包括 Viola Ventures、中國平安、Greylock Partners、TCV 和 Wellington Management Co.。該公司在 200 多個國家和地區開展業務，由 Yuval Tal 在以色列創立，目前由首席執行官 Scott Galit 領導。
FTAC 在 8 月份的首次公開募股 (IPO) 中籌集了約 7.55 億美元。它由董事長 Betsy Cohen 和首席執行官 Ryan Gilbert 領導。
特殊目的收購公司 (SPAC) 的成立是為了尋找現有的一家或多家公司。一直在討論引入新投資以幫助完成 Payoneer 交易。該交易還包括一項 3 億美元的 PIPE，即對公共股權的私人投資。
“Payoneer 是一個很好的例子——我很難找到另一個同樣先進的，消費者的採用曲線和技術的能力已經很好地融合和融合，”科恩告訴彭博社。
Payoneer 的交易是在 Paysafe Group 發布類似公告之後進行的，Paysafe Group 同意通過與億萬富翁 Bill Foley 領導的空白支票公司合併來上市。
對於支付公司來說，在海外匯款和收款可能是有利可圖的，但大流行已經削減了這項業務。一個很大的例外是電子商務的爆炸式增長，包括世界各地的跨境銷售。
Payoneer 表示計劃在上市後擴大其產品範圍。 “我們很高興不僅擁有更大的資產負債表，而且還有一種公共貨幣，”加利特對彭博社說。
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