Funding to help accelerate product and commercial growth and strengthen position in the banking and payment vertical SaaS market
Investment funds managed by Morgan Stanley Expansion Capital announced an investment of $20 million in NovoPayment, a leading financial and payment infrastructure service provider specializing in delivering digital banking, payments and card solutions.
“We are thrilled to receive this investment from Morgan Stanley Expansion Capital to support our continued innovation and service expansion to grow our customer base, further amplifying our positive impact in the markets in which we operate”
The funding is expected to support NovoPayment’s continued scaling and expansion of commercial partnerships.
Founded with the mission to redefine financial infrastructure, NovoPayment is a vertical-focused SaaS that enables banks, financial institutions, neo-banks, digital merchants, and fintech’s to offer intuitive digital financial and payment services, improving customer experiences and operational margins. NovoPayment’s innovative business and delivery model combines easy-to-integrate solutions with robust, scalable, secure and compliant infrastructure, filling market gaps and driving compelling digital initiatives. NovoPayment’s flagship platform offers a comprehensive suite of solutions ranging from digital wallets, instant issuance of deposit accounts and virtual cards to RTP, cross-border transfers, digital lending and cash management. NovoPayment serves 15 markets across Latin America, the Caribbean and the United States.
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“We are thrilled to receive this investment from Morgan Stanley Expansion Capital to support our continued innovation and service expansion to grow our customer base, further amplifying our positive impact in the markets in which we operate,” said Anabel Perez, CEO of NovoPayment. “As the financial services landscape continues to evolve, we believe NovoPayment is well-positioned to compete in the embedded finance market by reducing friction and driving efficiency.”
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“NovoPayment’s robust technology platform has positioned the company as a leader in the Latin America market,” said Pete Chung, Managing Director and Head of Morgan Stanley Expansion Capital. “The company’s mission-critical infrastructure enables the modernization of marquee banks and financial institutions in the region through a comprehensive, full-stack platform.”
“We are very excited to support Anabel and her team of operators, who bring deep industry and local market expertise, as they continue to grow and deliver value to customers,” added Nick Nocito, Executive Director at Morgan Stanley Expansion Capital. “We believe it is clear in the market that Anabel and NovoPayment are thought leaders in this space.”
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Source – Businesswire
