Payoneer Rebrands Ahead of Public Listing: A Universe of Opportunities
Payoneer has announced a rebranding to align with its growth as a fintech leader, also set to trade on Nasdaq under the ticker PAYO with an enterprise value of $3.3 billion. Originally established in 2005, Payoneer now facilitates borderless commerce for millions of businesses worldwide. The new brand identity signifies its commitment to being a universal partner in digital commerce. The reorganization with FTAC Olympus Acquisition Corp is expected to close by June 23, 2021, paving the way for Payoneer's entry into the public market.
- Payoneer to rebrand as it transitions to Nasdaq trading under PAYO.
- Enterprise value estimated at $3.3 billion at closing.
- Strong market position as a fintech leader supporting global commerce.
- None.
Payoneer, the commerce technology company powering payments and growth for the new global economy, announced today a rebrand to reflect its current position in the market and its vision to be the world’s go-to partner for digital commerce everywhere. The new brand marks another chapter in the fintech pioneer’s evolution from young disrupter to industry leader, with plans to begin trading on Nasdaq under the ticker PAYO later this month at an enterprise value of approximately
A 2005 “pre-fintech fintech”, Payoneer was born on the cusp of the global shift to digital, borderless commerce. Now, the business is very much at the heart of it. Payoneer’s vast networked ecosystem offers millions of businesses – from emerging-market freelancers to the marketplaces and platforms redefining how the world operates – the technology, connections and confidence to participate and flourish in the new global economy.
“This is the era of Open Commerce,” said Scott Galit, CEO of Payoneer, “a time when the entire world operates on a single digital plane, and anyone, from anywhere, has the opportunity to realize their potential. This is the reality we have always been building towards. As we enter the public markets and look ahead, our new brand is designed to keep driving the business forward while keeping us true to our purpose: to imagine, engineer and inspire a universal future for commerce, together with our millions of customers and partners all over the world.”
Payoneer’s new brand color is “universal”, reflecting its promise to be for everyone everywhere. The new symbol is a circle, illustrating its journey to becoming a single destination, unified, and connected in more places than anyone else.
The brand itself was developed in partnership with global brand company venturethree. Creative Director Jason Lowings said of the project, “There are many players in the busy payments and financial services space, but Payoneer is unique in the breadth, depth and integrity of their global ecosystems. It is a truly universal business, with an optimistic global perspective, uniting marketplaces, systems, businesses and entrepreneurs, everywhere in the world. To express and celebrate this, the new symbol of Payoneer reflects the universe of opportunities available through their many products, services and platforms.”
Learn more on the Payoneer blog and download the new logo here.
Note: In February 2021, Payoneer entered into an Agreement and Plan of Reorganization with FTAC Olympus Acquisition Corp (NASDAQ: FTOC) in a transaction that would result in Payoneer becoming a U.S. publicly listed entity. The transaction is expected to close at the end of June 2021, subject to satisfaction of customary closing conditions, and Payoneer is expected to begin trading on Nasdaq under the ticker PAYO shortly thereafter.
About Payoneer
Payoneer is the world’s go-to partner for digital commerce, everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy.
Since 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realize its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google, Upwork and Walmart, Payoneer offers a universe of opportunities, open to you.
About venturethree
venturethree is an independent global brand company. It invents and reinvents brands to create change people value.
Known for its experience in brand strategy, design and experience across the world of media, entertainment, technology, finance and more, venturethree is on a mission to shape the future of brand for brands of the future.
With a hub in London and a presence in key markets including the US, India and Singapore, the team delivers category-defining work for clients such as Sky, NOW, TransferWise, Just Eat and Sports Direct.
Important Information and Where to Find It
In connection with the proposed Reorganization between Payoneer and FTOC, New Starship Parent Inc. filed with the Securities and Exchange Commission (“SEC”) a definitive proxy statement / prospectus contained in a registration statement on Form S-4, as amended, and FTOC mailed the definitive proxy statement / prospectus and other relevant documentation to FTOC stockholders. This document does not contain all the information that should be considered concerning the proposed Reorganization. It is not intended to form the basis of any investment decision or any other decision in respect of the proposed Reorganization. FTOC stockholders and other interested persons are advised to read the definitive proxy statement / prospectus in connection with the solicitation of proxies for the extraordinary general meeting to be held to approve the transactions contemplated by the proposed Reorganization because these materials will contain important information about Payoneer, FTOC and the proposed transactions. The definitive proxy statement / prospectus was mailed to FTOC stockholders of record as of May 19, 2021. Stockholders are also able to obtain a copy of the definitive proxy statement / prospectus, without charge, at the SEC’s website at http://sec.gov or by directing a request to: FTAC Olympus Acquisition Corp., 2929 Arch Street, Suite 1703, Philadelphia, Pennsylvania 19104.
The definitive proxy statement / prospectus can be found in the filings on Form S-4 by New Starship Parent Inc., as well as in the DEFM14A filing of FTOC at www.sec.gov. Payoneer and FTOC entered into a definitive agreement and plan of reorganization (the “Reorganization”) in February 2021. Completion of the Reorganization is subject to approval by the shareholders of FTAC Olympus Acquisition Corp. and certain other conditions. The proposed business combination is expected to close shortly after the special meeting of the FTOC shareholders which is scheduled for June 23, 2021.
Participants in the Solicitation
Payoneer and FTOC, and their respective directors and executive officers, may be considered participants in the solicitation of proxies with respect to the potential transaction described in this press release under the rules of the SEC. Information about the directors and executive officers of FTOC and other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders in connection with the potential transaction and a description of their interests is set forth in the definitive proxy statement/prospectus filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FTOC or Payoneer, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
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