CAB Payments Holdings plc
TypePublic
LSE: CABP
IndustryFinancial services
Founded2016
HeadquartersSutton, London, England
Key people
Anne Cairns (Chairman)
Bhairav Trivedi (CEO)
RevenueIncrease £109.4 million (2022)[1]
Increase £43.5 million (2022)[1]
Increase £33.0 million (2022)[1]
Websitewww.cabpayments.com

CAB Payments Holdings plc is a British payment processing and foreign exchange business. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.[2]

History

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.[3] 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.[4]

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.[5]

In 2019, it went on to acquire a payment gateway system from Segovia, a financial technology company focused on cross-border payments.[6]

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.[7][8][9]

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.[10]

References

  1. 1 2 3 "Prospectus" (PDF). CAB Payments. Retrieved 23 August 2023.
  2. ↑ "FTSE UK Index Series Quarterly Review September 2023". FTSE Russell. 30 August 2023. Retrieved 15 September 2023.
  3. ↑ Michie, Ranald (1 September 2006). "Managing the British Empire: The Crown Agents, 1833–1914,". 121. The English Historical Review: 1138–1139. doi:10.1093/ehr/cel263. {{cite journal}}: Cite journal requires |journal= (help)
  4. ↑ "Helios acquires Crown Agents' financial services". Global Trade Review. 6 April 2016. Retrieved 23 August 2023.
  5. ↑ "Crown Agents Bank Launches Online Trading Platform, EMpowerFX". New Business. 1 February 2018. Retrieved 23 August 2023.
  6. ↑ "Crown Agents Bank: Creating liquidity and supporting payments in Africa". Africa Today. 2019. Retrieved 23 August 2023.
  7. ↑ "Fintech IPO: Shares dip in UK fintech CAB Payments London debut". Alternative Finance. 6 July 2023. Retrieved 23 August 2023.
  8. ↑ "CAB Payments drops on first day of trading after London IPO". Financial Times. 6 July 2023. Retrieved 23 August 2023.
  9. ↑ "CAB Payments makes London Stock Exchange debut with £851.4m IPO". Investment Week. 6 July 2023. Retrieved 23 August 2023.
  10. ↑ "CAB Payments shares plunge 74% three months after London IPO". FT. 24 October 2023. Retrieved 24 October 2023.
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