It is headed up by Betsy Cohen, its chairman, and Ryan Gilbert, its CEO. About The Study: Open banking-powered payment offerings have been available in some markets since 2018, but the pandemic drove many consumers to try these solutions for the first time — and there’s no going back. View Company. FTAC Olympus Acquisition Corporation is led by entrepreneur Betsy Cohen. Sign up for the PYMNTS.com Newsletter to get updates on top stories and viral hits. Payoneer notes that the SPAC merger has the unanimous support of both companies’ Boards of Directors. EquityZen is a marketplace for shares of proven pre IPO tech companies. My wife drinks and gambles our money away, and my adult stepchildren are deadbeats who do drugs and play video games. Payoneer Stock. 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. The cash component of the purchase price to be paid to the equity holders of Payoneer is expected to be funded by FTOC’s cash in trust (minus any redemptions by FTOC’s existing public stockholders), as well as by a $300 million private placement. After the deal closes, which is expected to occur during the first half of 2021, the company will be named Payoneer Global Inc., and is expected to have up to $563 million in cash. I received two $1,400 stimulus payments because I was also claimed as a dependent. Get an instant estimate Payoneer Equity Fairness Calculator Low High. “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 stock price, funding rounds, valuation and financials. Investors in Payoneer include Viola Ventures, Ping An, Greylock Partners, TCV and Wellington Management Co. Why a SPAC vs. an IPO The issue with Payoneer has been that they never had enough capital to grow or to provide their customers more. It takes a long time to build a really robust and safe payments platform. Need to exercise your Payoneer stock options? It has run up 40.6% over the past three months, while the Renaissance IPO ETF has rallied 36.6% and the S&P 500 has gained 13.6%.Market Pulse Stories are Rapid-fire, short news bursts on … Payoneer Reports 55 Pct Jump In Payments Volume For 2020, Payoneer Teams With Mastercard On Digital Solutions For SMBs, Billions In US Rental Aid Await Distribution To Struggling Tenants, Chinese Regulators, Ant Group Agree On Restructuring Plan For FinTech, Investing Startup Stash Raises $125 Million To Advance Growth, Taco Bell President: ‘Restaurants Of The Future’ Will Tap Targeted Experiences, BNPL Expands ‘Next Gen’ Label; Aims Across Demographics, Amex: Digital Tools Will Bring Consumers Back To Restaurants, Taking Friction Out Of Back-Office Digitization. Copyright © 2021 MarketWatch, Inc. All rights reserved. It had been in discussions to bring in new investments to help with the Payoneer deal. About Payoneer Stock. AT&T to record $2.8 billion gain on its pension obligations in the first quarter, Alphabet CEO Pichai sells more stock as prices rally to a record, Watch: Elon Musk’s Neuralink monkey appears to play Pong with its mind. 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. What can I do? FTAC Olympus's stock, which started trading on Aug. 26, 2020, rose 8.7% in premarket trading following the merger announcement. The EV drops to only $4.3 billion or ~8x forecasted '22 sales of $540 million. Digital payments platform Payoneer has confirmed in a press release that it's going public via a merger with FTAC Olympus Acquisition Corporation, a SPAC that went public in August 2020. New York NY, US. Sending and receiving money overseas can be lucrative for payments companies, but the pandemic has cut into that business. In the future, you’ll send us a fixed number of shares. The balance of the consideration payable to the existing Payoneer equity holders will consist of shares of common stock of the company. UBS analyst Jay Sole says the reopening trade could lift stock prices in this category by between 7% and 13% by September. Payoneer’s purpose-built platform provides global connectivity with localized capabilities, layered on top of a robust and scalable compliance, risk and regulatory infrastructure. The stock has an implied stock valuation now of $4.8 billion. That decision came before the Covid-19 pandemic began savaging the U.S. equities markets in March 2020, causing severe stock swings and shutting down the IPO market. The deal values eCommerce heavy-hitter Payoneer at $3.3 billion. Together they will form a new company for the IPO to be called be called Payoneer … The unusual activity in FTOC stock caused trading in it … Company profile page for Payoneer Inc including stock price, company news, press releases, executives, board members, and contact information What it still needs is approval from shareholders of FTOC stock … Headquarters. Founded. Payoneer Inc., an online payments specialist, is in talks to go public through a merger with FTAC Olympus Acquisition Corp., a blank-check firm, according to people with knowledge of the matter. $117 M Payoneer Revenue Y, 2015. 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. SPX, Payoneer General Information Description. How many shares were you offered? Digital payments platform Payoneer has confirmed in a press release that it’s going public via a merger with FTAC Olympus Acquisition Corporation, a SPAC that went public in August 2020. Founding Date: 2005: Payoneer: total Funding$270 m: Time since last funding : 3 years ago: Payoneer: investorsVintage Investment Partners, Susquehanna … FTAC Olympus, a company that raises funds through an initial public offering to take another company public through a merger, raised $750 million in its IPO last year. View More Companies. The term “gift card,” as of the year 2021, is becoming something of a misnomer, as a gift card may or may... You have successfully joined our subscriber list. After the deal closes, which is expected to occur during the first half of 2021, the company will be named Payoneer Global Inc., and is expected to have up to $563 million in cash. After going public billion or ~8x forecasted '22 sales of $ 540 million of! 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