CAB Payments

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CAB Payments Holdings plc
RevenueIncrease £137.1 million (2023)[1]
Decrease £37.6 million (2023)[1]
Decrease £23.7 million (2023)[1]
Websitewww.cabpayments.com

CAB Payments Holdings plc is a British payment processing and foreign exchange business. It is listed on the London Stock Exchange.

History

The business originated when the Crown Agents' business was consolidated under two Joint Agents General for Crown Colonies with an office of several staff in 1833.[2] In April 2016 Crown Agents demerged its financial services arm, Crown Agents Bank and Crown Agents Investment Management, and sold it to Helios Investment Partners.[3]

The company launched its new online foreign exchange platform, EMPowerFX, which was primarily intended for the exchange of currencies used in developing countries, in February 2018.[4]

In 2019, it went on to acquire a payment gateway system from Segovia, a financial technology company focused on cross-border payments.[5]

The company was the subject of an initial public offering on the London Stock Exchange, which valued the company at £851 million, in July 2023.[6][7][8]

On 24 October 2023, only three months after its IPO, CAB Payments issued a profit warning causing its share price to collapse by 74% on the day.[9]

References

  1. ^ a b c "Annual Results 2023" (PDF). CAB Payments. Retrieved 26 March 2024.
  2. doi:10.1093/ehr/cel263
    .
  3. ^ "Helios acquires Crown Agents' financial services". Global Trade Review. 6 April 2016. Retrieved 23 August 2023.
  4. ^ "Crown Agents Bank Launches Online Trading Platform, EMpowerFX". New Business. 1 February 2018. Retrieved 23 August 2023.
  5. ^ "Crown Agents Bank: Creating liquidity and supporting payments in Africa". Africa Today. 2019. Retrieved 23 August 2023.
  6. ^ "Fintech IPO: Shares dip in UK fintech CAB Payments London debut". Alternative Finance. 6 July 2023. Retrieved 23 August 2023.
  7. ^ "CAB Payments drops on first day of trading after London IPO". Financial Times. 6 July 2023. Retrieved 23 August 2023.
  8. ^ "CAB Payments makes London Stock Exchange debut with £851.4m IPO". Investment Week. 6 July 2023. Retrieved 23 August 2023.
  9. ^ "CAB Payments shares plunge 74% three months after London IPO". FT. 24 October 2023. Retrieved 24 October 2023.

External links

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