Global payment platform Payoneer and FTAC Olympus Acquisition Corp., a special purpose acquisition company, announced they have entered into a definitive agreement and plan of reorganization (the “Reorganization”).
Upon closing of the reorganization, the newly created holding company will be renamed Payoneer Global Inc. and the combined company (the “Company”) will operate as Payoneer, a US publicly listed entity. The Company is expected to have an implied estimated enterprise value of approximately $3.3 billion at closing, based on current assumptions.
Payoneer’s management team will continue to lead the Company. Payoneer has been backed by investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more.
Payoneer’s mission is to democratize access to financial services and drive growth for digital businesses of all sizes from around the world. Payoneer was founded on the basis that technology and the internet were transforming commerce and making it possible for anyone anywhere to build and grow a digital business.
Payoneer Built Global Payments Network Over Last 15 Years
Over the past 15 years, Payoneer has built a broad ecosystem that connects marketplaces, sellers, freelancers, gig workers, manufacturers, banks, suppliers, buyers and more into an integrated global platform. Payoneer’s secure, regulated platform offers a global, multi-currency account to businesses of any size around the world, enabling them to pay and get paid globally as easily as they do locally.
Building upon its meaningful brand, recognized and trusted by businesses all over the world, Payoneer has expanded its services to empower businesses to grow globally. Payoneer services include: Marketplace Payments; B2B Accounts Payable / Accounts Receivable; Merchant Services; Working Capital; and Risk and Compliance Services.
One of the company’s most recent additions was its Payment Orchestration solution that makes it easier for North American merchants to accept international payments.
Technology Transforming Commerce Globally
“Technology is transforming commerce globally, bringing down borders and making it possible for entrepreneurs from all over the world to build a digital business. This new way of doing business requires a global financial platform built for the digital age. Payoneer’s purpose-built platform provides global connectivity with localized capabilities, layered on top of a robust and scalable compliance, risk and regulatory infrastructure.”Scott Galit, Chief Executive Officer of Payoneer
Payoneer’s digital platform streamlines global commerce for millions of small businesses, marketplaces and enterprises from 190+ countries and territories. More details about the reorganization plan and Payoneer’s move to become a public company is available here.
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