Corpay has announced the completion of Mastercard’s previously disclosed $300 million minority investment in its cross-border business. The investment gives Mastercard a roughly 2.3% equity stake based on a $13 billion enterprise valuation, which includes the recently closed Alpha Group acquisition.
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The two companies have also entered into a new commercial partnership that will bring Corpay’s cross-border payment services to Mastercard’s global network of financial institution clients. Corpay will also continue expanding the use of Mastercard Move across additional countries to support real-time international transactions.
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Corpay Chairman and CEO Ron Clarke said the transaction reinforces a long-standing relationship with Mastercard and is part of a larger strategy to build Corpay’s corporate payments capabilities. Clarke noted that with major acquisitions including Paymerang, GPS and Alpha, along with Corpay’s minority position in AvidXchange, the company expects Corporate Payments revenue to exceed $2 billion in 2026 and account for more than 40% of total company revenue.
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Corpay’s cross-border division provides international payment and foreign exchange solutions to banks, financial institutions, businesses and institutional clients in over 160 currencies worldwide.
Goldman Sachs served as financial advisor to Corpay and Jones Day acted as legal counsel.
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