Nayax, an Israeli fintech startup that offers a global commerce enablement and payments platform designed to help merchants scale their business, expects its shares to begin trading on the Nasdaq Stock Exchange in an IPO, effective this Wednesday, September 21, 2022. Nayax shares will then trade under the ticker NYAX on the Nasdaq Global Select Market as well as the Tel Aviv Stock Exchange (TASE).
Nayax has not, as of yet, released the details for its expected share price. However, its shares are currently trading at a little above $20 on the TASE.
Fintech refers to new technologies which automate the delivery and use of financial services. Fintech 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. And Israeli fintech is big.
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In January Israeli fintech startup Personetics, a global provider of data-driven personalization and customer engagement solutions for banks and financial services providers, raised $85 million of growth funding invested from Thoma Bravo. And Israeli blockchain security startup Redefine raised $11 million in a Seed round in January that gave the company a $50 million valuation.
Founded in 2005 by CEO Yair Nechmad and CTO David Ben-Avi, Nayax was an Israeli fintech startup that already had a successful IPO. But since then its shares have fallen in value by 20% and so the company hopes for better results in New York.
“We are thrilled to be dual listing on the Nasdaq Stock Exchange, enabling Nayax to increase shareholder value with enhanced liquidity, while offering an exciting and integral opportunity to expand our shareholder base across the globe. As Nayax continues to execute on one of its key growth strategies to expand its global footprint, this dual listing is a strategic move that reflects our commitment to technology innovation and relentless focus in extending our market leadership worldwide,” said Yair Nechmad, CEO of Nayax.