Tech companies powering digital payments are taking it to the public market, seeking financial support for their businesses in integrated finance, cryptocurrency, alternative point-of-sale credit, and other hot trends.
Digital payment processor Stripe is exploring whether to pursue an initial public offering in the near future, according to Reuters. The Crypto Exchange Circle announced in June a merger with a specialist acquisition company with the goal of going public later this year. Wise was listed in London a few days earlier, and Payoneer was listed on the Nasdaq at the end of June following a previous merger agreement with FTAC Olympus Acquisition Corp.
This activity is part of a busy year for the IPO market in general. As of June 30, IPOs in the United States totaled $ 171 billion across all industries, breaking the mid-year high of $ 168 billion set in 2020, according to Dealogue. Until then, the current record of $ 107 billion in mid-year dated back to 1999, at the height of the dot-com boom, according to Bitfinix.
Payment technology companies have an existing base of registered users and control over credentials and transaction data, which is of interest to all investors and special purpose acquisition companies. âPayment technology companies are transaction-based businesses with predictable recurring revenue streams,â said Richard Crone, payments consultant.
Here are nine payment companies that have either gone public in the past few weeks or are working on a public listing.