Nayax Ltd., an Israeli Fintech startup, has commenced a global initial public offering of its ordinary shares to institutional investors. Nayax proposes to sell up to 44,000,000 of its ordinary shares in the offering, for as much as $150 million. This would give the company a $1 billion valuation.
The underwriters of the offering will also have a 30-day option to purchase up to an additional 9,525,000 ordinary shares from Nayax, at the initial public offering price. The initial public offering price is currently estimated to be between ILS 10 and 12 per share.
Founded in 2005 by CEO Yair Nechmad and CTO David Ben-Avi, Nayax is still privately owned and all of its shares are still held by its founders.
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Fintech refers to new technologies which automate the delivery and use of financial services. Fintech is helps companies, business owners and consumers better manage their financial operations, processes, and lives through new specialized software and algorithms which consumers and businesses alike can use on their mobile devices and home computers.
Nayax is a global Fintech company which specializes in payments and M2M communication, and is a provider of cashless payment devices, telemetry, remote management, and BI solutions. Nayax devices are found all over the world, with branches in 9 countries, and 40 distributing partners. These devices serve consumers in 55 countries and accept 26 currencies.
Nayax’s produces proprietary software and hardware, including SIM cards, connectivity, credit card clearing, marketing tools and software for remotely managing vending machines or other unattended businesses.
A number of Israeli Fintech firms have been finding success lately. Israeli startup AccessFintech brought in $20 million in a Series B round of financing last October. AccessFintech declares itself a fintech company which brings self-service, transparency, risk mutualization and more efficient supply-chain management to the global financial services industry. Its platform lets financial firms minimize risks during trades.
Israeli AI-powered Fintech startup Pagaya raised $102 Million last June. Pagaya uses AI, machine learning and big-data analytics to manage institutional money. The company’s software has a focus on fixed-income and alternative credit assets.