(Reuters) - Paya Inc is nearing a deal to merge with blank-check acquisition company FinTech Acquisition Corp III. performing well since listing their shares. Atlanta, Georgia-based Paya, previously the U.S. payment arm of Britain’s Sage Group, was valued at $260 million when GTCR acquired it in June 2017. The merger made sense at the … The IPO was considered a success as shares shot up over 50% in its first day of trading. Our Standards: The Thomson Reuters Trust Principles. FinTech Acquisition III is the third blank-check firm founded by seasoned investor Daniel Cohen. We will send instructions to reset For more information, read our These deals can assign firm valuations to companies that feel uncertain over how their IPO would perform. Enter your email address below. Paya now serves more than 100,000 customers, mostly small and medium-sized enterprises across the United States and Canada. with special focus on electronic trading, banking, and investing.Copyright © 2020 "Finance Magnates Ltd." All rights reserved. Introducing NextV - The Full Scope Solution To Building Your Next Virtual EventGo to article >>. On November 9, 2020, Paya Holdings Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2020. It raised $345 million in its November 2018 IPO. For example, FinTech Acquisition raised $345 million from its IPO back in November 2018. With services like its proprietary card and ACH platform, the company has processed a total of $30 billion in. They are later acquired by other companies that facilitate a reverse merger. “As a publicly listed company, we will continue to invest in the product innovation and support our software partners rely on to meet the needs of their clients, as well as have access to capital for additional strategic acquisitions.”. which could value the U.S. payments solutions provider at around $1.3 billion, including debt, according to people familiar with the matter. Nowadays, Paya, headquartered in Atlanta, Georgia, is targeting both small and medium-sized enterprises. What Does It Mean For Paya? Paya Inc., an integrated payments company, announced on Monday its merger with FinTech Acquisition Corp III, a special purpose acquisition company (SPAC), thus, confirming its listing on NASDAQ. A deal for Paya would be the second divestment in financial services by GTCR in recent days, following a deal by Black Knight Inc BKI.N on Monday to buy its mortgage data firm Optimal Blue for $1.8 billion. Thank you for registering to Finance Magnates. It raised $345 million in its November 2018 IPO. Thank you. With services like its proprietary card and ACH platform, the company has processed a total of $30 billion in transaction value. See here for a complete list of exchanges and delays. Beeks Collaborates with Singapore Stock Exchange to Remove Trade Barriers, Starling Becomes First Digital Bank to Post Profits, Revolut Adds Google Pay for Payments in Europe, Payments Firm Paya Goes Public with FinTech Acquisition III Merger. Atlanta, Georgia-based Paya, previously the U.S. payment arm of Britain’s Sage Group, was valued at $260 million when GTCR acquired it in June 2017. Finance Magnates is a global B2B provider of multi-asset trading news, research and events “Integrating payment solutions with software is the fastest-growing segment of the payments industry, and Paya is perfectly positioned as the partner of choice for sophisticated software providers and middle-market business clients across multiple attractive verticals,” Betsy Z. Cohen, chairman of the board of directors of FinTech III, said. Many SPACs have been emboldened by the strong performance of some of these deals, such as sports betting company DraftKings Inc, and electric vehicle maker Nikola Corporation, A stock market listing by Paya would come after a string of payments companies have gone public in the last 12 months, with the likes of Shift4 Payments. FinTech Acquisition III is the third blank-check firm founded by seasoned investor Daniel Cohen. 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