Robert Ronning, a financial technology expert and the co-founder of PayVida, a leading payment processing solutions provider that integrates global payment methods and currencies of choice to merchants and consumers, has recently announced about PayVida’s plans to go public. Over the course of the past two years, PayVida has strengthened its position as a major Canadian financial technologies company, sustaining consistent innovation and growth while introducing and maintaining the lowest rates in the payment processing industry, and is looking to expand into the global market.
Victory Square Technologies, a top Canadian technology company that focuses on innovative ideas in artificial intelligence, blockchain, health, virtual reality and gaming fields, and invests into the most promising entrepreneurs, has recently signed a letter of intent to acquire 33% of PayVida on fully diluted basis. However, with ambitions to make the platform available to more markets, and be able to serve more merchants and consumers around the globe, PayVida will soon be undergoing a reverse takeover (RTO) – a type of a merger that private companies use to become publicly traded without resorting to an initial public offering (IPO). “We have recently taken-in financing from a number of very reputable retail investors in Canada who are working closely together with Victory Square Technologies to take PayVida public.” reveals Ronning, “This will allow us to have the gross capital needed to expand our platform globally and continue to hire top performing industry professionals.”
The payment processing space is a large and rapidly growing market. McKinsey & Company, a leading global management consulting firm trusted by many influential businesses and institutions, has valued it at $900 billion, with an annual growth rate of 38%. “Right now, the market is surging with financial technologies and we’ve seen that with some great companies in both Vancouver and abroad. However, we feel we can stand up to the competition by offering a highly differentiated product supported by simple, affordable and transparent service. This RTO will be a great chance to include more shareholders on the road to fulfil our mission and revolutionize the industry,” continues Robert Ronning. In contrast to similar payment processing businesses, PayVida’s innovative platform enables crypto and cross-border currency services that integrate the largest payment methods in the world including WeChat, AliPay, China UnionPay, Interac, and major card brand processing – Visa, Mastercard, Chase and American Express – for small-to-medium and enterprise organizations. Currently the Vancouver-based enterprise is actively managing all the legal aspects of going through an RTO with the goal to become publicly traded in late first quarter/early second quarter of 2018.
Robert Ronning is a financial technology expert and the co-founder of PayVida Solutions, an innovative payment processing platform. Having assembled a world-class team of experts and being the visionary behind the company, he leads all strategic business development aspects including the integration of current and upcoming payment technologies, growth of enterprise relationships, commercialization and global go to market activities.
Robert Ronning – Crunchbase: https://www.crunchbase.com/person/robert-ronning
Robert Ronning of PayVida Announces LOI with Victory Square Technologies Inc.: http://www.digitaljournal.com/pr/3649754