The team

Matt Leonard


The Number 118-118: A start up telecom, media and data business funded by the Tisch Family in 2001. Matthews role was primarily the COO of the business which grew to +$250m EBITDA.

Travelex: A financial services and payments business founded by Lloyd Dorfman CBE in 1976. Watermarx consulted from 2010 to 2012 support the disposal of the Prepaid Card business to MasterCard for £290m and Global Payments Business to Western Union for £606m.

 MasterCard: A financial services business with a market cap of $361B. Watermarx consulted in USA and APAC region. Primary objectives were to redesign the prepaid card supply chain and launch the consumer business in Japan. This project generated ~$500m of market cap value at the current P/E ratio.

Moneycorp: A financial services and payments business founded in 1962 and acquired by Royal Bank of Scotland SOF in 2011 for £109m. The business sold to Bridgepoint in 2014 for £212m. Watermarx has consulted for the business since 2012. Matthew was also the Managing Director from 2013 to 2016 and remain a shareholder. The current valuation of the business is estimated at +£1B.