Paynetics, a leading embedded finance provider, has announced the strategic acquisition of Novus, the UK’s first “impact neobank.” This acquisition highlights Paynetics’ dedication to promoting environmental, social, and governance goals while transforming the financial industry with its cutting-edge embedded finance solutions.
Novus has revolutionized traditional banking by empowering conscious consumers to make a difference through seamless integration of financial services with impactful initiatives. With Novus’ innovative corporate model, users can easily support causes they care about – a percentage of revenue from each transaction is automatically directed to an NGO chosen by the customer. Additionally, users can track the carbon footprint of their purchases through the Novus app and offset them via certified Carbon Removal Projects.
Paynetics plans to build upon these offerings and expand the ESG ecosystem throughout Europe, empowering clients to drive ESG initiatives through corporate embedded finance services for a brighter future.
Co-founder of Paynetics, Ivo Gueorguiev, expressed, “We believe in the potential of individuals to change the world. The acquisition of Novus by Paynetics perfectly complements our goal to accelerate businesses through innovation and agility. Together, we will create a platform where clients can grow while making a positive impact.”
CEO & co-founder of Novus, Hristian Nedyalkov, added, “Novus was founded with the mission to make an impact through finance. Our vision was to enable all consumers and companies to thrive while making a positive difference. With Paynetics’ expertise, we look forward to expanding our mission and achieving new levels of success.”
