A business-to-business payments player backed by the Gandel family, Luxury Escapes co-founder Adam Schwab and PSC Insurance founder Paul Dwyer has hit the fundraising circuit.
Street Talk understands Pay.com. au (see chart below) is seeking to raise $15 million via a private placement at a $303 million pre-money equity valuation to kickstart its expansion into the lucrative US small business market.
Sole lead manager Morgans told interested parties the fintech had committed to seeking an initial public offering before June 2026, subject to market conditions, in a term sheet sent on Wednesday morning and seen by Street Talk.
Morgans was calling for final bids by 5pm on December 18 – a tight seven-day turnaround.
Read the full story tomorrow and more on the Street Talk page.
The Australian sharemarket touched a two-week low on Wednesday, extending a wave of profit-taking that kicked off in the previous session as traders await key US inflation data.
