Fintech Payoneer going public in SPAC led by Bancorp founder

Payoneer, a New York City-based fintech start-up that specializes in facilitating cross-border payments, is set to go public by merging with a blank-check company led by Bancorp founder Betsy Cohen, the companies announced Wednesday.

The merger with Cohen’s SPAC, FTAC Olympus Acquisition Corp., values Payoneer at $3.3 billion. The transaction also includes a $300 million private investment in public equity (PIPE) from existing investor Wellington Management, as well as Fidelity Management & Research Company, and Franklin Templeton, among others.

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Source: Fintech Payoneer going public in SPAC led by Bancorp founder