Australian fintech success Optal seeks new global investor

Forget Prospa, SocietyOne and the like; a new fintech has popped on to dealmakers’ radars and it is one with more than a decade’s history and a significant amount of earnings.

Street Talk understands there is at least a stake up for grabs in Australian-based but globally focused business to business payments company Optal Ltd, which is the liquidity event some of its early backers have been waiting for.

Optal CEO Rob Bishop and his team have hired a boutique adviser in the United States, FT, to market the stake to potentially interested parties and set up a sale process.

Optal is known in fintech and payments circles worldwide, and has had no shortage of inbound approaches over the years. It is believed to be seeking one or two investors to take a minority stake.

Bishop says that the process is yet to reach the pointy end.

Optal is understood to be making about $60 million a year at the earnings line, with business all over the world. It started in 2002 and has grown organically and inorganically with a focus on business to business payment processes.

The company is expected to be worth at least $500 million.

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Source: Australian fintech success Optal seeks new global investor | afr.com