An incredible milestone for Payoneer they are on the path to becoming a publicly traded company. This milestone will be accomplished following the merger with an already publicly traded special purpose acquisition company (SPAC), FTAC Olympus Acquisition Corp. (Nasdaq: FTOC) at a combined valuation of $3.3 billion. You can read more details in the press release.
It’s been a long path on thejourney from when Payoneer started 15 years ago. Early on, they recognized that the internet was changing the way the world operated, making it possible for anyone, anywhere to build and grow a digital business. Whether it was a large digital marketplace with billions of dollars in annual sales, or an entrepreneur who has never sold anything ever before, the newly connected economy democratized opportunity for both developed and emerging markets alike. Payoneer knew these businesses needed a new financial partner to support their growth, and help them navigate the increasingly complex, evolving world of digital commerce. Payoneer made it their mission to use technology to deliver sophisticated global digital financial services to businesses of all sizes and making it possible to connect once to Payoneer and to access the whole world.
Over the past 15 years, Payoneer have built an ecosystem that connects marketplaces, sellers, gig workers, merchants, manufacturers, banks, suppliers, buyers and more onto a single global platform. They have built a secure, regulated platform that offers a global, multi-currency account to businesses of any size from almost country, providing an expansive global payment infrastructure to pay and get paid globally as easily as locally.
Today marks the start of a new chapter for Payoneer.
So, what does this mean for you, clients, customers and partners?
Going public will deliver significant financial resources to help us accelerate investment in our platform, expand product development, and further improve the customer experience. Payoneer can always do better and are committed to doing precisely that.
Payoneer will continue to be led by experienced management team. The FTAC Olympus team, which includes some of the fintech industry’s most seasoned experts, will act as trusted advisors on their path to continued growth.
Will there be in any change in the way Payoneer provides me with service?
Payoneer will continue to operate under the Payoneer name and there will be no changes to the team that serves you or how they do business. This milestone is the first step in increasing Payoneer’s resources, all of which are aimed at developing the platform and further improving customer experience.
What’s next?
Payoneer will become a public company once the deal is complete. A lot has happened and changed since 2005, but Payoneer truly believe that they are only just getting started.