Paysafe

Fintech / paymentsUK

New to Unitard

📉 Public < $1B

Peak $9 BillionRecorded estimate

~-95%

from peak

🦄
Became a unicorn
2021
📈
Peak valuation
$9 Billion ’21
💔
Became a Unitard
2022
💸
Last valuation estimate
~$450M

Current status

Public (NYSE: PSFE); did a 1-for-12 reverse split (2022)

The rise & fall

7 moments · 1996–2025

The key moments, with employee sentiment along the way.

1996

Founded in the first internet wave

Decades of payments deal-making — Neteller, Skrill and more — eventually roll up into the Paysafe group.

Wikipedia

Mar 2021

The peak: a $9B SPAC debut$9B

Merges with Bill Foley's Foley Trasimene Acquisition Corp II — one of the largest de-SPAC deals of the boom — and joins the club on arrival.

FinTech Futures

Nov 2021

Projections missed, stock craters

Saddled with debt and exposed to volatile end-markets like iGaming, it slashes its outlook and the shares collapse.

CNBC

2022

Slips out of the club

The de-SPAC hangover drags the market cap far below $1B.

stockanalysis.com

Dec 2022

1-for-12 reverse split

The split props up the share price as the market cap settles under half a billion.

stockanalysis.com

2022–25

From the inside · Glassdoor reviews, 2022–25

Employee reviews from the long aftermath described the austerity: staff in Sofia, London and Jacksonville reported bonuses going unpaid several years running even as recruiters kept pitching, salaries slipping below market, and reorganizations arriving in waves.

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Paysafe is a payments-processing and digital-wallet company (Skrill, Neteller) that returned to the public markets in March 2021 through a $9B SPAC merger with Bill Foley's Foley Trasimene Acquisition Corp II — one of the largest de-SPAC deals of the boom.

Saddled with debt and exposed to volatile end-markets like iGaming, it badly missed projections; the stock collapsed, forcing a 1-for-12 reverse split in 2022, and by 2026 it was worth around $450M — 95% below its debut.

Source: FinTech Futures / stockanalysis / companiesmarketcap (~$9B SPAC merger with Bill Foley's Foley Trasimene Acquisition Corp II, March 2021; 1-for-12 reverse split Dec 2022; ~$446M market cap by 2026, -95%)

Who ran it

Bruce Lowthers
CEO
Still there — Chief Executive OfficerLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

Disclosed investors (11)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard