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.
The global payment and commerce-enabling platform Payoneer Inc. and FTAC Olympus Acquisition Corp, a special purpose acquisition company, today announced they have entered into a definitive agreement and plan of reorganization. Upon closing of the reorganization, the newly created holding company will be renamed Payoneer Global Inc. and the combined company will operate as Payoneer, a U.S. publicly listed entity.
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The Company is expected to have an implied estimated enterprise value of approximately $3.3 billion at closing, based on current assumptions. Payoneer has been backed by investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more.
Scott Galit, Chief Executive Officer, Payoneer said, “We are incredibly excited about the opportunity ahead and believe that our leading global platform, brand, product suite, and network create significant and sustainable competitive advantages, and that our multi-pronged growth strategy will deliver strong growth for years to come. We are thrilled to partner with Betsy Cohen and the FTOC team and are confident that we will benefit from their significant industry expertise as we embark on our journey as a public company.”
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