Nov. 12 at 10:40 AM
$BILL $FOUR went through this 'exploring a sale' process and nothing came of it.
$FLYW was said to be considering offers in August 2024 and nothing came of it. PE firms are not bidding high these days, which leaves larger public companies. That said the whole fintech space, including the likes of RELY, DLO,
$PAYO and those above are likely going to get acquired sooner or later as the public markets don't treat them well. They all trade at half or a third of mature slower growing payments names on an ev/gp basis and the margin profile would ramp high in any deal. AvidXchange, Nuvei, Bottomline (more on that next) have all been sold in recent times (2-3 yrs). Makes sense they all sell given as the public markets just don;t trust these names according to their valuations.