Public (NYSE: PSFE); did a 1-for-12 reverse split (2022)
The rise & fall
7 moments Β· 1996β2025
The key moments, with employee sentiment along the way.
1996
π±
1996
Founded in the first internet wave
Decades of payments deal-making β Neteller, Skrill and more β eventually roll up into the Paysafe group.
Wikipedia
Mar 2021
π
Mar 2021
The peak: a $9B SPAC debut$9B
Merges with Bill Foley's Foley Trasimene Acquisition Corp II β one of the largest de-SPAC deals of the boom β and joins the club on arrival.
FinTech Futures
Nov 2021
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
π
2022
Slips out of the club
The de-SPAC hangover drags the market cap far below $1B.
stockanalysis.com
Dec 2022
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
2022β25
π¬
From the inside Β· Glassdoor reviews, 2022β25
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.
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; 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 β 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 β 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 β Chief Executive Officer Β· LinkedIn β
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
