PayCertify Inc. and ProfitPay Technologies Inc. reached a new deal which will see ProfitPay acquiring both the issued and outstanding shares of PayCertify. As part of this deal, existing PayCertify investors who hold common shares will receive “subordinate non-voting shares” of ProfitPay Technologies in exchange for each ProfitPay Share.
The new and combined entity will become one of the biggest fintech marketplaces in the US, bring them closer to unicorn status – a US$1bn valuation.
The firms will be pulling together active multi-billion-dollar contracts and card issuance operations that cut across 22 currencies and are trusted by leading players in eCommerce and related sectors across the globe.
ProfitPay Technologies is a leader in mobile wallet technology, the firm also provides brand support solutions in the fintech sector. PayCertify has its strengths in the development of fintech products and support services. The firm also has a track record of building solid alliances with renowned media buyers, eCommerce leaders, and marketplaces.
PayCertify facilitates remittances, offers compliance and fraud prevention solutions, issues cards in dollars, euros, and Canadian dollars, offers KYC/KYB, and also provides mobile wallet and digital banking infrastructure for e-commerce brands and marketplaces.
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