Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger
NEW YORK, February 4, 2021– Global payment firm Payoneer merge with FTAC Olympus Acquisition Corp. (NASDAQ: FTOCU), a special purpose acquisition company at an estimated enterprise value of approximately $3.3 billion.
After this deal, Payoneer will be renamed as a Payoneer Global Inc. and will operate as Payoneer, the U.S. publicly listed entity. The company will carry up to $563 million in cash.
Payoneer’s management team will continue to lead the Company.
The global online payment transfer firm raises investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more.
Payoneer processed more than $44 billion in volume in over 7,000 trade corridors in 2020.