7 Best UK Growth Stocks To Invest In

3. Paysafe (NYSE:PSFE)  

Number of Hedge Fund Investors: 17

Paysafe (NYSE:PSFE) is a payment platform operator that enables businesses and consumers to connect and transact seamlessly. The company offers digital wallet services, online payment processing, and prepaid cards. Its products are used in e-commerce, gaming, and financial services industries, with a strong presence in Europe and North America.

In Q2, Paysafe’s (NYSE:PSFE) revenue increased 9% year-over-year to $439.9 million which indicated that the company’s operational momentum is strong, the growth was driven by eCommerce. However, Paysafe (NYSE:PSFE) has a debt-heavy capital structure, with a significant portion of floating-rate debt, which is expected to benefit from interest rate cuts.

On July 25, Paysafe (NYSE:PSFE) announced a partnership with Alchemy Pay, a leading fiat-crypto payment solution provider, to access its payment products and allow consumers to purchase crypto across 130 markets through Paysafe (NYSE:PSFE). This will allow users across 130 countries to easily use 40+ currencies to purchase Bitcoin, Ethereum, and other cryptocurrencies. By providing its payment products to Alchemy Pay’s customers, Paysafe (NYSE:PSFE) aims to earn increased revenue from transaction fees and expand its reach into the rapidly growing cryptocurrency market.

In the second quarter, Paysafe’s (NYSE:PSFE) stock was held by 17 hedge funds with stakes worth $30.92 million. Adage Capital Management is the largest shareholder in the company, with a stake worth $5.59 million as of June 30.