Paynetics purchases Novus as part of a shift towards sustainability-focused finance
Paynetics, a leading embedded finance provider, has recently acquired Novus, the UK’s top impact neobank, in a move to enhance its sustainability-driven growth strategy. The acquisition is part of Paynetics’ commitment to strengthening environmental, social, and governance (ESG) objectives and transforming the finance industry with its powerful embedded finance capabilities.
Novus has disrupted traditional banking by offering socially conscious customers the opportunity to make a difference through their financial transactions. Users can choose a Non-Governmental Organisation to receive a portion of their transaction revenue, while also tracking and offsetting the carbon footprint of their purchases through Carbon Removal Projects using the Novus app.
With this acquisition, Paynetics aims to expand these initiatives and promote the ESG ethos throughout Europe. By integrating its corporate embedded finance service with a strong ESG focus, Paynetics seeks to support business growth and help clients advance their personal ESG goals.
Ivo Gueorguiev, co-founder of Paynetics, expressed confidence in the transformative potential of people, stating that the acquisition of Novus aligns with the company’s mission to drive business growth through innovation. The goal is to create a platform that empowers clients to grow their ventures while making a positive societal impact.
Hristian Nedyalkov, CEO and co-founder of Novus, shared the same enthusiasm for the acquisition, emphasizing Novus’ commitment to making a significant impact in the finance sector. By leveraging Paynetics’ expertise, Nedyalkov believes they can strengthen their mission and reach new heights.
As the global focus on sustainability increases, the merger between Novus and Paynetics is expected to provide customers with convenient banking solutions while empowering them to make a positive impact on the environment. This partnership is well-timed as the demand for sustainable banking options continues to rise. Together, Paynetics and Novus aim to blend financial sustainability with ecological sustainability, making everyday banking a proactive tool for societal change.
