The new brand marks a new phase in the firm’s growth from a “young disrupter to industry leader” with plans to commence trading on the Nasdaq under the “PAYO” ticker symbol later in June with an approximately $3.3 billion enterprise value at closing, according to the announcement.
“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 CEO Scott Galit said in the announcement.
The brand was created in collaboration with venturethree, which is an international brand company.
Payoneer’s new brand color is “universal,” representing its vow to be for all people in all locations. In addition, the company’s new symbol is a circle, showing its journey to becoming one destination, “unified, and connected in more places than anyone else,” according to the announcement.
venturethree Creative Director Jason Lowings said in the announcement that Payoneer’s new symbol “reflects the universe of opportunities available through their many products, services and platforms.”
The news comes as Payoneer has agreed to become a public company by the way of a business combination with “blank check” firm FTAC Olympus Acquisition Corp., according to a published report in February.
Payoneer, a payments service provider for such firms as Amazon and Airbnb, is said to be profitable and anticipates pulling in $432 million in revenues this year. The firm processed over $44 billion in payments last year.
Payoneer’s backers include Wellington Management Co., TCV, Greylock Partners, Ping An and Viola Ventures, as previously reported.
