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What is The IPO in the Global Business Arena?

 

Hey! Are you scratching your head over the terminology called IPOs? IPOs are the term used for companies selling their shares to widen their investor base globally, and it not only helps them expand capital but also improves global visibility. Like other sectors, the cross-border sphere also has a reasonable share of IPOs with ups and downs over time, and this is what this write-up will unearth, helping you to hunt possible ways of investment in this specific sphere.

 

Causes behind Declined IPOs in 2023

 

With dozens of IPOs declining in 2023, financial experts doubt whether 2024 will succeed in IPOs in all sectors, including the cross-border money transfer sphere. While evaluating further, you notice factors behind declined IPOs are an unbalanced economic landscape, massive interest rates, growing inflation, and geopolitical issues.

 

After a significant acceleration of IPOs in the early months of 2020, many companies have since repelled taking initiatives for IPOs amid an unstable investment environment. Yes, this shaky financial stability also jolted the remittance world as it didn’t continue venturing into more public listings despite having massive IPOs in 2021.

 

Growth Predictability of IPOs up to 2025

 

However, with the central bank squeezing interest rates and companies generating sensible probabilities, the IPOs tend to progress up to 2025. In this regard, the BNPL payments provider Klana is all set to acquire consultancy services from central banks such as Morgan Stanley, Goldman Sachs, and JPMorgan.

 

If IPOs sustain their progressive journey in the remittance space, there will be an influx of remittance companies towards IPOs such as Remitly, Flywire, Wise, Payoneer, and dlocal.

 

Remittance Companies Listed Publicly in Recent Years

 


 

The year 2021 witnessed massive companies’ IPO activities at a similar time with different focuses. For instance, Wise & Remitly was determined on consumer money transfers and remittances. Payoneer, with the mission of going public via a SPAC deal, was determined for cross-border e-commerce. The Flywire handled cross-border payments in education, B2B healthcare, and travel niches, and IPOs are heading in the right direction.

 

Then, the cross-border payment landscape is about to witness many other newly emerged remittance companies adapting to IPO growth strategies. Actual remittance companies that opted for IPO were not only for massive cash injection but also for getting more global exposure. For example, Wise joined The London Stock Exchange through straight listing without hunting for capital, which accomplished the company’s goal of going international.

 

Analysis of Remittance IPOs from 2020 to 2024

 


 

From the beginning of 2020 to June 2024, 5,200 IPOs were listed on Crunchbase across every sector, with just over 100 of them linked to payments. More than 30 companies either focused on cross-border payments or made it an essential part of their offering, specifically manifesting cross-border payments on their sites. Several cross-border payment IPOs have been on a downward spiral since 2021 but have remained stable on a half-yearly basis for the last two years.

 

High Employee Numbers of Cross-Border IPO Companies

 


 

While evaluating cross-border payment IPOs from the perspective of a higher number of employees by the companies involved in IPOs, you witness a massive number ranging from 101-250 to 5000-10,000 employees. Interestingly, more than half of the companies already had over 10,000 workers when they started their IPO journey. While digging more, you also explore how companies with smaller numbers dived into the sea of IPOs such as AppTech.

 

Furthermore, most companies that opted for IPO business strategy are based in the USA, followed by the UK & India, and some remittance companies went to get listed on stock exchanges outside of where they are situated. For instance,  UK-based cross-border company Paysafe was listed on the New York Stock Exchange, and according to financial experts, listing abroad helps a company’s expansion strategy by attracting new customers in new markets.

 

Companies that Can Announce IPO in the Future

 


 

Having witnessed the positive outcomes of venturing into IPOs, companies are gearing up to get into it; thus, the remittance world will witness lots of IPO activities, benefiting this particular sphere from a larger perspective. In this journey of IPO venturing by remittance companies, you witness Revolut being very passionate, and its recent report of 2023 reveals the company’s revenue of 95% worth £1.8bn. The company is determined to align its financial processes with those of the publicly listed companies.

 

Similarly, the CEO & Co-Founder of Rapyd Arik Shitlman told TechCrunch that B2B payment providers were gauging factors like market conditions, potential funding, and investor motivation when going public. Furthermore, Stripe's recent drive to grow profit has dampened the need to opt for an IPO, emphasized by the company’s CEO & president John Collison's statement of “no rushing to go public” to Financial Times.

 

Wrapping It Up

 

Yes! Extra cash injection through IPO helps companies pay off their debts; for instance, Nuvei aimed to ensure its return on its M&A practice by rewarding its workers with great stock options. While IPO paves the way for companies to go public and raise funds, hurdles such as strict cost regulation, the requirement of manifesting quarterly profits to invests, and the enhanced public scrutiny are dampening companies’ move to integrate into IPO business strategy, and that needs to be catered for the IPO-led cross-border payment companies on a larger scale in upcoming years.

 

The massive IPO activities in the forthcoming years, particularly in the remittance landscape, will encourage ordinary people more to invest safely in remittance companies they use to transfer funds. Furthermore, when sending money to Pakistan, India, Bangladesh, Nepal, and the Philippines from Australia or Singapore, you should consider Speed Remit the most reliable and encrypted option to transfer funds.

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Compliance

Speed Remit works diligently to prevent its systems from being used to perpetrate any unlawful activity. We protect our customers and prevent the use of our products or services by anyone for money laundering, terrorist financing, sanctions violations, scams, and fraudulent intentions. As necessitated, we work with law enforcement to apprehend and impeach offenders.

Speed Remit collect different types of personal information for legal and compliance purposes relating to you that may be Compliance information, including fraud prevention, identity verification, and sanction checks. This may further include using your personal information to validate and authenticate your identity, and utilising third parties to help us do so, using personal information needed to comply with legal and regulatory duties related to anti-money laundering and counter-terrorist financing; detection, prevention and prosecution of fraud and theft as well as preventing illegitimate or prohibited use of our services or other illegal or wrongful activity.

Onboarding customer Identity Verification

Speed Remit is a financially regulated company and required by laws to verify the information prior to onboarding customers. Below are the more information on our verification processes and policies for our onboarding customers.

1. Why does Speed Remit need to verify me?

1.1 Normally, we will only need to check/Screen your name, address date of birth and country of origin.
1.2 We may also do enhance due diligence (EDD) that will be depend on amount to comply with the sending country regulations.
1.3 We will contact you if we need anything from you, so please ensure you check your emails regularly after you’ve made your transfer. In very rare cases the funds remain undelivered in absence of any additional information required under the prevalent laws of the territories.

2. What ID is required for the country I’m registered in?

2.1As a financially regulated company we are required by laws to verify all of our customers. Part of this process is 'identity verification'. Usually this involves collecting a copy of Government issued Valid ID from you and you can upload your ID securely at any time for our screening / verification during registration process.
2.2 Please upload your ID front side and back side to complete your verification process.

3. .Is there anything I need to know before I upload my ID?

3.1 When submitting your ID, please make sure that it's a high quality photo or scan of a valid original government-issued ID card, and the image should be clearly displaying the below information:

- ID Number
- Your Photo
- Your Complete name
- Your Date of Birth
- ID’s expiry date
- The full machine readable zone (the two lines of letters and numbers at the bottom of the document) if present
- Resident Address

3.2 The complete name and date of birth must match with your details on your Speed Remit account.

3.2 If any details do not match, please contact the Speed Remit Customer Support team (sr.cs@speedremit.com) to have your details amended. For more information on this click "My Account" option

4. What types of ID can I use?

4.1 In case the Government issued ID card is not available incidentally at the time of registration / transaction, we may alternatively accept below ID's in case it is allowed your local central bank / financial regulator. At the end of the day, you must be holder of a valid ID even if you are unable to present it at the time of transaction.

- Driving License
- National ID
- Passport - All four corners of the document must be visible and it should visibly display the vital information.

4.2 Always upload the front and back of the ID or any alternate document (if any). The document number must be visible and there should be no glare or defocused image.
* Must match the details in your Speed Remit account

5. What is address verification?

Address verification is part of our customer verification.

5.1 If we need to verify your resident address we will contact you by email. You’ll need to reply to the email with your address and any proof of Address document as an attachment e.g. Last Utility Bill etc.

5.2 When submitting your proof of address, please ensure that it is a high quality photo or scan of a valid document showing:

- Your full name
o This must match what appears on your Speed Remit account
- Your full Resident address
o This must match what appears on your Speed Remit account

5.3 The name and address on the document must match the details on your Speed Remit account.

5.4 If any detail does not match, you can update them on our app or website by visiting the My Account Option of the Speed Remit.

6. What types of document you required to accept for address verification?

6.1 ID documents we can usually accept include:

- Utility Bill
o This can be a gas, electricity, water or insurance bills.
o We can’t accept mobile phone bills
o The bill must be no older than 3 months
- Driving Licence
o This must show your address
o This must be in date – we cannot accept expired documents
- Bank / Credit card statement
o This must be no older than 3 months

6.2 If your document is not accepted, it could be for a number of reasons. Some of the reasons documents cannot be accepted are:

- The date on document
o If the document is older than 3 months, we cannot accept it
- The details on your document
o The details (including name and address) on the document are not matched with information on your Speed Remit account
o The details must be for your home residence, not a PO Box or workplace
- The document type
o The type of document may not be one we can accept (for example a mobile phone bill)

7. What happens to my personal information after I upload it?

7.1 We only use these when we are completing Know Your Customer (KYC) checks, which is an essential process.

7.2 You can read more about our privacy policy and how we use your information here.

8. Need to send us your documents?

8.1 TIf we've emailed you and asked you to send us some documents, use the link in our email to upload your photo ID or selfie, and provide your proof of address by attaching it and replying to our email.

- To provide your photo ID or selfie: use the shared link in the email, or upload them here:
o Photo ID
o Selfie
- To provide your proof of address or any other document, reply to our email with your document as an attachment

Be our Agent

Speed Remit is expanding and intend to widen our presence in order to provide our customers with remarkable services across the world. We offer a great opportunity for worldwide regulated money transfer companies/ Banks to join speed remit Network as send and receive agent, simply fill in the form below. We’ll get back to you as soon as possible.