Paynetics acquires Novus to bolster environmental, social, and governance (ESG) initiatives, a move that is set to transform the FinTech landscape.
The acquisition aims to enhance and expand the ESG ecosystem throughout Europe, allowing clients to advance ESG initiatives through embedded finance services.
Paynetics is renowned for its embedded finance solutions, offering businesses seamless integration of payment services within their products. As a dual-regulated entity in both the EU and the UK, and a principal member of major financial networks like Mastercard and VISA, Paynetics delivers a broad range of services, including card acceptance and issuance, payment accounts, transfers, and digital wallet integrations.
Novus, on the other hand, has redefined traditional banking by enabling users to support various causes through their everyday transactions. With each purchase, a portion of the revenue is donated to a customer-selected NGO. Additionally, the Novus app allows users to monitor and offset the carbon footprint of their purchases through certified Carbon Removal Projects.
This strategic partnership is expected to significantly amplify Paynetics’ ESG mission, fostering a more sustainable and socially responsible financial ecosystem. The combined expertise of both companies will likely introduce innovative solutions that empower consumers and corporates alike to contribute positively to global challenges.
Further details about the acquisition reveal a shared vision between Paynetics and Novus, highlighting the importance of leveraging finance as a tool for social and environmental impact. Both companies are excited about the prospects of their joint venture, emphasizing the synergies between Paynetics’ technological prowess and Novus’ commitment to impact banking.
Ivo Gueorguiev, co-founder of Paynetics, expressed enthusiasm about the merger, stating, “We believe in the power of people to transform the world. Paynetics’ acquisition of Novus aligns perfectly with our mission to accelerate businesses through innovation and speed. Together, we’ll create a future where a single platform empowers clients to grow while making a positive impact.”
Hristian Nedyalkov, CEO & co-founder of Novus, added, “Novus’ mission was to create impact through the lens of finance. Our vision was to empower all consumers and corporates to do well while doing good. With Paynetics’ expertise, we’ll amplify our mission and reach new heights.”
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