Brisbane-based Cohort Go helps international students with fees, including tuition.
According to the report, RBC bankers have begun showing the company to potential domestic and foreign strategic suitors and private equity firms. He told them he thought he would issue binding tenders in March and expected to get a deal signed afterwards.
A flyer sent to potential buyers promoted Cohort Go as a vertically integrated payment platform for the international student sector.
Students, he said, have used the platform to securely pay for tuition and study fees, insurance, accommodation and other costs associated with studying in another country.
Cohort Go was founded in 2012 by CEO Mark Fletcher and CTO Paul Jones.
The report says the company originally served international students studying in Australia, but has now expanded to serve Canada, Europe and the UK.
The company is still a small player in the student payments scene, which is thought to be around $660 billion a year.
In 2022, the company expects to process $880 million in payments and record $21.4 million in revenue.
The suitors are said to be looking to find out how the business operated over the past two years when the number of international students in Australia was reduced. The Go cohort will likely tell them that they missed the worst of it all due to their choice to release their product in other markets in 2018.
In other news related to cross-border payments, PYMNTS wrote recently that Paysend, the card-to-card and international payment platform, has partnered with Tencent Holdings to allow people to receive money through the WeChat service.
Read more: Paysend and Tencent collaborate on cross-border payments
The partnership will allow Paysend users to make cross-border payments through licensed Chinese banks. The funds will go to bank accounts through the Weixin app, a version of WeChat.