Welcome to our dedicated page for CORPAY news (Ticker: CPAY), a resource for investors and traders seeking the latest updates and insights on CORPAY stock.
Corpay (NYSE: CPAY) is a leading fintech provider of corporate payment solutions for vehicle expenses, cross-border transactions, and accounts payable automation. This news hub aggregates official press releases and verified updates about the company's strategic initiatives, financial performance, and market developments.
Investors and business professionals will find timely information on earnings announcements, partnership agreements, product innovations, and regulatory updates. Key coverage areas span corporate acquisitions like the Paymerang integration, expansion of commercial card programs, and advancements in payment automation technologies.
All content is sourced directly from Corpay's investor relations materials and reputable financial publications. The curated format enables efficient tracking of operational milestones that may impact long-term growth in the competitive fintech sector. Bookmark this page for streamlined access to essential updates about Corpay's payment network development and B2B financial solutions.
Celcoin, a Brazilian fintech specializing in Banking as a Service (BaaS), has secured a US$125 million investment led by Summit Partners. This funding round, also supported by Innova Capital and fintech executive John Coughlin, aims to accelerate Celcoin's expansion and product innovation. Established in 2016, Celcoin provides financial infrastructure for over 400 financial companies and 5,000 non-financial firms, focusing on payments, banking, and lending.
Celcoin is a leader in Open Banking solutions in Brazil and processes over 200 million Pix transactions monthly. The company reported a 140% increase in annual recurring revenue, reaching US$63 million in Q1 2024. The investment will enhance technology, innovation, and potential M&A opportunities. Celcoin's recent strategic acquisitions include Galax Pay, Flow Finance, Finansystech, and Reg+.
Corpay, a leading corporate payments company, has announced the expansion of its Cross-Border business with a new office in Auckland, New Zealand. This move aims to provide localized support and innovative solutions to clients in the region, reinforcing Corpay’s presence in the Asia-Pacific market. The New Zealand office will offer the full suite of Corpay's products, including global payments and currency risk management for wholesale customers. Corpay has been ranked number one for Enterprise Payment Software in four consecutive G2 Market Reports. The company is also looking to hire local talent to enhance its team in New Zealand.
Corpay has launched the Corpay World Elite Business Mastercard, designed to streamline business transactions and enhance employee travel. This card offers small and medium enterprises (SMEs) features such as 1.5% cashback on purchases, access to Priority Pass™ lounges, and benefits from Mastercard Travel & Lifestyle Services®. The card also boasts customizable purchasing controls, robust security features, and seamless integration with Corpay Complete, a spend management platform. By partnering with Mastercard, Corpay aims to provide a comprehensive solution for managing expenses and optimizing daily operations.
Corpay, a global leader in corporate payments, will be participating in several investor conferences in 2024. Key executives will attend events such as the Barclays Annual Emerging Payments and FinTech Forum, Baird Global Consumer, Technology & Services Conference, William Blair Growth Stock Conference, and RBC Financial Technology Conference. Investors can access the presentations on the Company's investor relations website.
Aldrich Capital Partners (ACP) has announced the sale of Paymerang to Corpay, enhancing B2B payment solutions across various industries. The sale, led by ACP, is praised for Paymerang's growth and success under their ownership, with plans to expand offerings under Corpay. The transaction is expected to close in Q2 2024.
Corpay, Inc. reported financial results for Q1 2024, with 6% organic revenue growth and a 17% increase in the Corporate Payments segment. The company announced the acquisition of Paymerang for revenue and profit synergies. Revenues increased to $935.3 million, with net income up 7% to $229.8 million. EBITDA rose 5% to $482.4 million, and adjusted net income increased to $301.3 million. The company updated its FY 2024 outlook with total revenues between $3,960 million and $4,040 million and adjusted net income per diluted share between $18.80 and $19.20.
Corpay, Inc. (NYSE: CPAY) has announced the acquisition of Paymerang, a leader in accounts payables automation solutions, to strengthen its presence in key vertical markets such as education, healthcare, hospitality, and manufacturing. The deal, expected to close in Q2 2024, will expand Corpay's merchant network to over 1.25 million vendors, processing $120 billion in annual spend.
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