10.9 C
London
Monday, April 15, 2024
HomeBankingBulgaria’s Paynetics acquires UK neobank Novus

Bulgaria’s Paynetics acquires UK neobank Novus

Date:

  • Bulgaria-based embedded finance firm Paynetics has acquired Novus, a B-Corp-certified digital bank in the UK.
  • Novus, founded in 2020, is an “impact neobank” that enables users to monitor their carbon footprint and earn cashback for sustainable purchasing choices through its app.
  • Novus users can obtain rewards from 130 ethical brand partners and offset the carbon footprint of their purchases by participating in certified Carbon Removal Projects via the app.
  • Paynetics’ acquisition of Novus is aimed at enhancing such offerings and expanding the environmental, social, and governance (ESG) ecosystem across Europe.
  • The deal will also help Paynetics’ clients advance social and environmental initiatives through its embedded finance solution.
  • Paynetics secured an electronic money institution (EMI) license from the UK’s Financial Conduct Authority (FCA) last year.
  • The Sofia-headquartered company offers both B2B and B2B2C solutions, including card acceptance and issuance, and digital wallets.

Related stories

ICYMI fintech funding round-up: Mimo, TransferGo, Smartpay, Adro and more

Mimo:Raised £15.5 million led by Northzone. Plans...

Pomelo Group names Steve Vickers as new CEO

New CEO Appointment:Pomelo Group, a payment infrastructure...

Former PayPal chief Dan Schulman joins Valor Capital as managing partner

New Appointment:Dan Schulman, former president and CEO...

Missouri’s Central Bank taps Personetics for AI-powered money management solution

Partnership Overview:Central Bank, headquartered in Missouri, USA,...

Bolt appoints interim CEO as Maju Kuruvilla departs

Leadership Change at Bolt:Maju Kuruvilla, who served...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img