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What smart money is saying about Corpay, Inc.United States flag

CPAY · Technology · Software - Infrastructure · Market cap $22.21B

3 funds in our archive have pitched Corpay, Inc. — most recently Vltava Fund in December 2025.

Company profile

Corpay, Inc. operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards. It also provides corporate payment solutions consisting of accounts payable automation; virtual cards, cross-border solutions; and purchasing and travel and entertainment card products, as well as lodging payments solutions for employees who travel overnight for work purposes; traveling crews and stranded passengers from airlines and cruise lines; and insurance policyholders displaced from their homes due to damage or catastrophe. In addition, the company offers gifts and payroll cards. It serves business, merchant, consumer, and payment network customers. The company was formerly known as FLEETCOR Technologies, Inc. and changed its name to Corpay, Inc. in March 2024. Corpay, Inc. was founded in 1986 and is headquartered in Atlanta, Georgia.

Fund coverage · 3 theses

  • Vltava Fund
    December 2025

    Corpay is a global corporate payments platform with recurring revenue, high switching costs, scale and data advantages, and proven M&A execution, offering long-term growth and cash generation that the fund believes is undervalued.

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  • Middle Coast Investing
    September 2025

    Corpay is a diversified payments provider with strong corporate payments growth, steady earnings, and fuel-price linked revenue trading below 15x cash earnings.

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  • Orbis Global Equity
    December 2024

    Corpay is a company that helps businesses manage expenses and pay vendors through a network of services, demonstrating strong financial performance and significant growth potential, while currently trading at a discount compared to the broader market.

    Read the full thesis

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