Priya Patel
TLDR:
Paynetics acquires Novus Neobank in a strategic move to advance ESG goals and revolutionize the financial landscape. Novus empowers users to make a positive impact with every transaction, directing a portion of revenue to NGOs selected by customers. Paynetics plans to expand on this model and enhance ESG offerings while empowering clients across Europe.
Paynetics Acquires Novus Neobank to Amplify ESG Mission
Paynetics, an embedded finance provider, has announced the acquisition of Novus, the UK’s first “impact neobank.” This strategic move highlights Paynetics’ commitment to advancing environmental, social, and governance goals while transforming the financial sector with its embedded finance suite. Novus has revolutionized traditional banking by allowing conscious consumers to make a difference through their financial transactions, directing a portion of revenue to NGOs chosen by the customer. Additionally, users can track and offset the carbon footprint of their purchases through certified Carbon Removal Projects.
Paynetics plans to build on Novus’ innovative model and expand the ESG ecosystem across Europe, empowering clients to drive forward ESG initiatives through corporate embedded finance services. Ivo Gueorguiev, co-founder of Paynetics, believes in the transformative power of people and sees the acquisition of Novus as a step towards creating a future where clients can grow while making a positive impact.
Hristian Nedyalkov, CEO & co-founder of Novus, expressed excitement about the acquisition, stating that Novus’ mission was to create impact through finance and empower consumers and corporates to do well while doing good. With Paynetics’ expertise, Novus aims to amplify its mission and reach new heights in the ESG space.
This acquisition marks a significant milestone in the fintech industry, showcasing the potential for finance to drive positive change and empower individuals to make a difference through their everyday transactions.
