10-Q, Member Exclusive

Payoneer, Robinhood, MoneyLion: Q2 highlights & what’s next on their radar?

  • We delve into the recent earnings and future direction of Payoneer, Robinhood, and MoneyLion.
  • In a key move, Payoneer acquired HR and payroll platform Skaud, aiming to expand in emerging markets and serve SMBs.
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    What are publicly-listed non-bank firms currently focused on?

     

    This week, we delve into the recent earnings and future direction of some of the non-bank companies currently in the spotlight.

    1. Payoneer’s Q2 and the key buyout of Skuad

    In its recent Q2 earnings update, Payoneer reported a 16% YoY increase in revenue to $239.5 million. The company experienced its sixth straight quarter of volume growth, up 22% YoY to $18.7 billion. B2B volume grew by 40% YoY, leading to an increase in the SMB take rate.

    On the same day, Payoneer announced its key acquisition of the Singapore-based payroll and HR platform Skuad for $61 million in cash, with up to $20 million more in future payments, combining cash and equity, contingent on meeting specific performance and tenure milestones.

    This acquisition aims to enhance Payoneer’s role as a business-grade financial stack for small and medium-sized enterprises (SMBs) operating internationally, tapping into global opportunities by exporting goods and services across borders.

    Skuad will become a new addition to Payoneer’s product suite, integrating payroll and contractor management services. This will facilitate global talent access, international hiring, and cross-border payment automation for Payoneer’s customers.

    According to Payoneer CEO John Caplan, the acquisition of Skuad is a strategic move that aligns with Payoneer’s product vision.

    “Our acquisition of Skuad will extend our existing product set and represents Payoneer taking another step toward offering a comprehensive, integrated financial stack for SMBs,” Caplan told me

    …


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