Nuvei in ‘advanced’ talks to acquire Payoneer for $2.7bn

While the deal could be signed in ‘the coming days’, talks are ongoing and it may not materialise at all, sources told Reuters.

Nuvei, a payments company based in Montreal, Canada, is reportedly in “advanced talks” to acquire Payoneer Global for $2.7bn, according to Reuters.

The purchase price – which includes Payoneer’s cash holdings – implies an enterprise value of about $2.3bn, according to two sources familiar with the matter that spoke with the publication.

While the deal could be signed in “the coming days”, talks are ongoing and it may change or not materialise at all, the sources added.

If the deal was signed, the resulting acquisition would combine Nuvei’s payment processing business with Payoneer’s cross-border payments solution.

Nuvei, which provides payment processing, risk management and payout solutions to merchants globally, was founded in 2003 by Philip Fayer, who is also the company’s chair and CEO.

Nuvei is backed by Canadian investment group CDPQ and private equity firms Novacap and Advent International – the latter of which took Nuvei private in 2024 through an all-cash transaction that valued the payments company at approximately $6.3bn.

Payoneer, which is based in New York, was founded in 2005 by Yuval Tal with $2m in seed funding from Tal and other private investors.

The company – which processes cross-border payments for freelancers, sellers and businesses – supports 70 currencies and has a number of high-profile customers, including Google, Ebay, AirBnB, Fiverr, Visa and Walmart.

Since Reuters’ report on the potential acquisition, Payoneer shares have risen significantly, jumping by more than 24pc. Its market capitalisation at the time of writing is currently $2.13bn.

At the start of this year, the US fintech acquired Dublin-based start-up and employee record-keeping platform Boundless for an undisclosed amount.

Boundless enables businesses to handle cross-border payroll, taxes, benefits and compliance, with the aim of simplifying complexities surrounding international employment to make it easier for companies to hire and support talent globally.

The acquisition was expected to help Payoneer access and manage its talent spread globally, especially as limited staff and varying local regulations make payroll compliance difficult, the company said at the time.

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