Mastercard invests $300M for ~3% stake in Corpay's cross-border business; exclusive partnership

CORPAY, INC.

Mastercard invests $300M for ~3% equity stake in Corpay's cross-border unit, valuing it at $10.7B (20x forward EBITDA).
Corpay becomes exclusive provider of cross-border payments and currency risk management to Mastercard's financial institution customers.
Corpay will exclusively offer Mastercard virtual card programs; Mastercard Move services expanded to Corpay's SME customers.

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