Corpay said Mastercard will become a minority investor in its cross-border business and acquire an approximately 3% equity stake for $300 million. The company said the investment represents an enterprise valuation of $10.7 billion, or 20x forward EBITDA multiple.

1. 01

   Corpay said Mastercard will become a minority investor in its cross-border business and acquire an approximately 3% equity stake for $300 million. The company said the investment represents an enterprise valuation of $10.7 billion, or 20x forward EBITDA multiple.

2. 02

   The company said Corpay will become the exclusive provider of currency risk management and large-ticket cross-border payments solutions to Mastercard's financial institution customers. The press release described Corpay as the exclusive partner for commercial cross-border payments.

3. 03

   Corpay said the two companies will extend their decades-long virtual card collaboration, with Corpay exclusively offering Mastercard virtual card programs to its customers. Mastercard Move, a service for small-ticket disbursements and remittances, will be offered to more small and mid-sized businesses in new markets.

4. 04

   The company said Corpay's cross-border business can process large-ticket payments in more than 160 currencies. CEO Ron Clarke said he expects Mastercard's sponsorship will accelerate the financial institution revenue build.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.