RE:Paysafe details : it's like buying PayPal at 10.00$ USBFT buys Paysafe using SPAC (special purpose acquisition company).
About Paysafe: Paysafe is a leading global payments provider focused on digital commerce and iGaming transactions.
Paysafe holds the No. 2 market share position in the global digital wallet market. The company’s digital wallet is in over 120 markets and has customers like DraftKings Inc DKNG and William Hill. The company has 3.8 million active users for its digital wallet segment.
Paysafe is No. 1 in the iGaming eCash network segment. Customers for this segment include Fortnite, Twitch and Spotify Technologies SPOT 1.16%.
In the independent merchant market, Paysafe holds the No. 4 market share position and helps with POS and e-commerce for small businesses.
Paysafe also lists Roblox NYSERBLX and YouTube, owned by Alphabet Inc GOOG 0.33% GOOGL 0.34% as customers.
Paysafe was taken private by Blackstone and CVC in 2017 in a $4.7-billion deal.
Financials: The company estimates that its 2021 payment volume will hit $103 billion. Revenue of $1.5 billion is estimated for fiscal 2021 by the company. Paysafe said revenue will grow at a compounded annual growth rate of 11% from 2020 to 2023.
The digital wallet segment is expected to have $441 million in revenue for 2021 with a 1.9% take on transactions. This represents 29% of the company’s 2021 revenue.
The eCash segment has 12 million active users and $5 billion in payment volume. This segment has a take of 6.8% and is expected to have 2021 revenue of $318 million.
The integrated processing segment has over $75 billion in payment volume and a 1% take. This segment is expected to have revenue of $764 million in fiscal 2021, representing 50% of the company’s total.
Growth: The deal is expected to help Paysafe accelerate growth, enhance margins and build out with mergers and acquisitions.
Paysafe also sees the ability to unlock $100 million in adjusted EBITDA from organic revenue and cost savings.
The company sees more wins coming in the iGaming segment as more states legalize online sports betting and iGaming.
LINK :
https://www.benzinga.com/news/20/12/18678982/paysafe-goes-public-again-in-spac-deal-what-investors-should-know