Paynetics, a Sofia, Bulgaria and London, UK-based embedded finance provider, acquired Novus, a UK based provider of a financial services for impact initiatives.
The amount of the deal was not disclosed.
With the acquisition, Paynetics will advance its environmental, social, and governance goals and the financial landscape with its embedded finance suite.
Led buy CEO Hristian Nedyalkov, Novus is an impact neobank that aims to turn everyday spending into a force for good, by connecting its members to a growing sustainability ecosystem of people, brands and projects. It is a B Corp™ Certified institution. Through the Novus app, users can further track the carbon footprint their purchases generate and offset them via certified Carbon Removal Projects.
Led by Ivo Gueorguiev, Paynetics is a provider of embedded finance solutions, enabling businesses to integrate payments within their products. It is dual-regulated in the EU and the UK and are principal members of Mastercard, VISA, UnionPay International, SWIFT and SEPA. The company offers comprehensive embedded finance solutions to its B2B and B2B2C customers safely in one place, including card acceptance and issuance, payment accounts and transfers, delivered through APIs, SDKs or full-service white labels.
FinSMEs
25/03/2024