Fintech Payoneer, once worth $3.3 billion, suspends earnings guidance and reportedly seeks a buyer
Almost four years ago, Payoneer Global was estimated at 3.3 billion dollars after merging with a white check company in 2021. Now the payment company is looking for a buyer, according to three banking and capital-investment leaders, who asked not to be identified because they were not authorized to speak publicly.
Payoneer hired an advisor and, in the last month, contacted the potential buyers, people said. In response to a request for comments by email, a spokesperson replied that the company “did not start rumors or speculation”.
Founded in 2005, Payoneer specializes in cross -border payments for small and mediation companies, or SMEs, as well as entrepreneurs. SMEs located in more than 190 countries are currently using the Payoneer platform; The Fintech had around 2 million customers last year, according to its 2024 Annual report. Payoneer employed around 2,407 employees spread over 44 locations in 37 countries. More than half, about 55%, are located in Israel.
Wednesday, Payoneer reported The benefit by action of the first quarter of 5 cents, less than the estimates of analysts of 9 cents per share. Revenues increased by $ 246.6 million, slightly higher than that of Wall Street of 244.73 million dollars.
Payoneer, citing the current macroeconomic uncertainty, said that it has suspended its previous guidelines in 2025 in the year in 2025. “There is a wide range of potential results and as a business supporting cross -border businesses which can be negatively impacted, we are confronted with substantial risks that could have an impact statement.
The news that Payoneer suspended the directives seemed to have an unfavorable effect on its shares, the shares plunged almost 14% on Wednesday, closing to $ 6.16.
Spac world
Payoneer was one of the many fintechs that merged with an acquisition company for special purposes, or SPAC, in 2021 as a means of making public. Companies generally choose to combine with a SPAC, as it is generally faster than a traditional IPO and also involves less regulatory control.
Some of these fintechs are now looking for investors. Moneylion, a digital financial services platform, was estimated at 2.4 billion dollars when he merged with a white check company in 2021. In April, MoneyLion sold In Gen Digital in April in an agreement of nearly a billion dollars. The Crypto Bakkt Commercial Company won an assessment of $ 2.1 billion when it combined with a SPAC in 2021 and was rumor at the end of last year to be in sales discussions with the media company of President Donald Trump.
Payoneer merged with a white check company in 2021 in an agreement worth $ 3.3 billion. In November, Payoneer reached a maximum of 52 weeks of $ 11.29, which represents a market capitalization of $ 4.24 billion, but has since made a large part of these earnings and was estimated at $ 2.89 billion on Thursday.
Other fintechs which became public in 2021 but via a traditional IPO also looked for investors. Avidxchange, a provider of Automation Software Accountsable, listed its actions in October 2021. Wednesday, Avidxchange agreed to a sale of $ 2.2 billion in TPG and Corpay.
This story was initially presented on Fortune.com
