Nuvei raises USD270 million at USD2 billion valuation

Nuvei, a global payment technology provider, has completed a USD270 million (CAD358 million) common equity financing, valuing the company at USD2 billion (CAD2.65 billion).

The investment comes primarily from Nuvei’s existing shareholders: leading Canadian private equity firm Novacap, supported by some of its key limited partners, and Caisse de dépôt et placement du Québec (CDPQ), one of the largest Canadian institutional investors. This financing allows Nuvei to further bolster both its organic and acquisition growth plans.

Headquartered in Montreal, Quebec and having offices across the globe, Nuvei delivers omnichannel, end-to-end payment acceptance solutions, streamlined payouts, foreign exchange services, local acquiring, risk management, and value-added business services in the US, Canada, Europe, Latin America, and Asia Pacific. Nuvei empowers businesses and organisations to grow locally and globally, delivering these capabilities through a single, unified platform.

Through one integration, Nuvei’s proprietary native platform makes it easy to connect with the global economy and begin transacting with clients in over 150 currencies worldwide. With support for over 180 alternative payment methods, this makes Nuvei one of the few established payment processors with truly global acquiring capabilities.

“I'd like to thank our partners for helping us continue to expand the breadth and reach of our fintech solutions around the world,” says Philip Fayer, Nuvei's chairman and CEO. “It further reinforces our strategy of growing organically and through complementary M&A activities, including technology partnerships, that will make a significant impact to the markets and businesses in which we operate.”

"We are extremely thankful for our LPs’ continued trust and support,” says Pascal Tremblay, president and CEO of Novacap (TMT). “This encourages us to continue our efforts to become even more performant at creating meaningful partnerships with entrepreneurs and management to build world-class companies."

"We are proud to support and accompany Nuvei through this exciting part of its history," says David Lewin, partner at Novacap (TMT). “This new raise gives the company flexibility to continue executing on its successful growth strategy.”

“Our partnership continues ahead to support the global expansion of a leading Quebec tech firm,” says Charles Émond, executive vice-president, Québec, private equity and strategic planning at CDPQ. “Since this initial investment, CDPQ and its partners are proud to have sustained Nuvei’s growth, especially through the transformational acquisition of SafeCharge, and to have supported the emergence of a world-class, global player in its field.”

The equity raise concludes an active and successful year for Nuvei. It completed several acquisitions including the transformational acquisition of SafeCharge International Group Limited. Nuvei was also nominated one of Canada's Best Managed Companies by Deloitte Canada, while Philip Fayer won the EY Entrepreneur of The Year® 2019 Award in the Fintech category.