Cross-border payments fintech Payoneer to IPO with $3.3bn Spac merger

FTAC is a special purpose acquisition company (Spac) headed up by The Bancorp founder, Betsy Cohen. It will use its investor cash to buy Payoneer in a reverse-merger. Alongside Temasek, Susquehanna Growth Equity (SGE), Viola Ventures, Nyca Partners and Wellington Management, the fintech’s investors also include TCV – the lead backer of Revolut’s half a billion-funding round. Payoneer is reportedly profitable and expects to pull in $432 million in revenues this year. The company processed more th
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