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Corpay Cross-Border Valued at ~$13B As Mastercard Closes $300M Minority Investment For ~2.3% Stake; Launches New Global Payments Partnership

Benzinga · 12/08 21:09

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Transaction values Corpay Cross-Border Business at approximately $13 billion

Corpay, Inc. (NYSE:CPAY), the corporate payments company, today announced that it has completed Mastercard's (NYSE:MA) $300 million minority investment into Corpay's cross-border business.

In April, Mastercard announced the $300 million investment at an approximately $13.0 billion enterprise valuation (inclusive of the recently closed Alpha Group PLC transaction) for a ~2.3% equity stake.

In combination with the investment, Mastercard and Corpay signed a new commercial partnership aimed at bringing Corpay cross-border services to Mastercard's financial institution customer base.

Corpay also continues to increase its use of Mastercard Move in additional geographies for time-sensitive, real-time transactions.

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