Corpay, Inc. (NYSE: CPAY) announced the completion of Mastercard’s (NYSE: MA) $300 million minority investment into Corpay’s cross-border business, alongside the establishment of a new commercial partnership.
Mastercard initially announced the $300 million investment in April, which valued Corpay’s cross-border business at an approximate enterprise valuation of $13.0 billion. This valuation includes the recently closed Alpha Group PLC transaction and represents a ~2.3% equity stake for Mastercard. The new commercial partnership aims to integrate Corpay’s cross-border services into Mastercard’s existing network of financial institution customers.
In addition to the investment and partnership, Corpay is expanding its utilization of Mastercard Move across more geographies. This initiative focuses on facilitating time-sensitive, real-time transactions.
Ron Clarke, Chairman and CEO of Corpay, commented on the development, stating, “We’re thrilled to close this minority investment, establish a new cross-border partnership targeting FIs, and extend our longstanding card issuing relationship with Mastercard.” He added, “Along with our acquisitions of Paymerang, GPS and Alpha over the past 18 months, plus our minority investment in AvidXchange, our Corporate Payments 2026 revenue is expected to surpass $2 billion, and represent over 40% of the company’s total revenues next year.”
Corpay Cross-Border specializes in providing solutions to banks, institutional investors, and businesses for international payments. The service supports transactions in over 160 currencies and assists clients in managing foreign currency exposure. Corpay, an S&P 500 provider, offers global commercial cards and AP automation solutions to businesses worldwide, focusing on controlling non-payroll expenses, mitigating fraud, and optimizing spending.
Goldman Sachs & Co. LLC served as the exclusive financial advisor to Corpay, with Jones Day acting as legal counsel.
