CAB Payments
 | |
| Company type | Public |
|---|---|
| LSE: CABP | |
| Industry | Financial services |
| Founded | 2016 |
| Headquarters | Southwark, London, England |
Key people | Anne Cairns (Chairman) Neeraj Kapur (CEO) |
| Revenue |  £137.1 million (2023)[1] |
 £37.6 million (2023)[1] | |
| £23.7 million (2023)[1] | |
| Website | www |
CAB Payments Holdings plc is a British payment processing and foreign exchange business. It is listed on the London Stock Exchange.
History
[edit]The business originated when the Crown Agents' business was consolidated under two Joint Agents General for Crown Colonies with an office of several staff in 1833.[2] In April 2016 Crown Agents demerged its financial services arm, Crown Agents Bank and Crown Agents Investment Management, and sold it to Helios Investment Partners.[3]
The company launched its new online foreign exchange platform, EMPowerFX, which was primarily intended for the exchange of currencies used in developing countries, in February 2018.[4]
In 2019, it went on to acquire a payment gateway system from Segovia, a financial technology company focused on cross-border payments.[5]
The company was the subject of an initial public offering on the London Stock Exchange, which valued the company at £851 million, in July 2023.[6][7][8]
On 24 October 2023, only three months after its IPO, CAB Payments issued a profit warning causing its share price to collapse by 74% on the day.[9]
References
[edit]- ^ a b c "Annual Results 2023" (PDF). CAB Payments. Retrieved 26 March 2024.
- ^ Michie, Ranald (1 September 2006). "Managing the British Empire: The Crown Agents, 1833–1914". The English Historical Review. 121: 1138–1139. doi:10.1093/ehr/cel263.
- ^ "Helios acquires Crown Agents' financial services". Global Trade Review. 6 April 2016. Retrieved 23 August 2023.
- ^ "Crown Agents Bank Launches Online Trading Platform, EMpowerFX". New Business. 1 February 2018. Retrieved 23 August 2023.
- ^ "Crown Agents Bank: Creating liquidity and supporting payments in Africa". Africa Today. 2019. Retrieved 23 August 2023.
- ^ "Fintech IPO: Shares dip in UK fintech CAB Payments London debut". Alternative Finance. 6 July 2023. Retrieved 23 August 2023.
- ^ "CAB Payments drops on first day of trading after London IPO". Financial Times. 6 July 2023. Retrieved 23 August 2023.
- ^ "CAB Payments makes London Stock Exchange debut with £851.4m IPO". Investment Week. 6 July 2023. Retrieved 23 August 2023.
- ^ "CAB Payments shares plunge 74% three months after London IPO". FT. 24 October 2023. Retrieved 24 October 2023.