SPAC Trailblazer Betsy Cohen Tells Investors To Think Globally

Betsy Cohen, a trailblazer in the special purpose acquisition company (SPAC) investment space and the chair of SPAC investment firm FinTech Masala, told investors during a webinar that the next wave of opportunities will come from abroad, Bloomberg reported Tuesday (June 29), citing the event hosted by the Economic Club of New York.

“We can do SPACs that are more European-centric, Asian-centric,” said Cohen. “We have to be packing our bags — either electronically or actually.”

At the same time, she also said that looking globally doesn’t mean good opportunities can’t be found state-side, Bloomberg reported.

Cohen started her first SPAC in 2015, long before Wall Street started looking into the investment vehicle as an alternate route for public offerings, according to Bloomberg.

She is launching her 10th SPAC deal soon. Her nine previous ones included eToro, CardConnect and Intermex, according to the company website. FinTech Masala invests in “exceptional growth-stage fintech companies through SPACs and venture rounds.”

Payoneer started trading on Nasdaq yesterday (June 28) following a $3.5 billion SPAC merger with FTAC Olympus Acquisition Corp. In an interview with PYMNTS CEO Karen Webster just prior to the listing, Payoneer CEO Scott Galit said that the company had been considering an initial public offering (IPO) before the pandemic hit. The digital escalation over the past year, however, was the turning point that made the firm take a closer look at going public.

He said the opportunity to go public would give the digital payments firm the capital it needs to launch new tools for consumers faster than it could have been able to otherwise.

The new omnichannel approach isn’t online sales versus physical retail sales, Galit said. It’s more about tuning in to multiple online sites and increasing engagement with shoppers. Aside from engagement, customers expect a frictionless buying experience.

He also said that the connected economy is an evolving space with opportunities to help grow and shape it. “We’re really early on,” he said.