Paynetics acquires Novus to boost its ESG mission

Paynetics offers card acquiring and issuing, account management and transfers as well as ewallets

Paynetics, an embedded finance provider, has acquired digital bank Novus to boost its environmental social and governance (ESG) goals.  

Novus enables customers to track and offset their carbon footprint and access cashback and rewards from 130 “ethical brand partners”.  

Customers can also contribute to causes with every transaction, as a portion of revenue is automatically directed to an NGO selected by the customer.  

Paynetics, headquartered in Bulgaria, is dual-regulated in the EU and the UK. It offers card acquiring and issuing, account management and transfers as well as ewallets. 

Ivo Gueorguiev, co-founder of Paynetics, said: “We believe in the power of people to transform the world. Paynetics’ acquisition of Novus aligns perfectly with our mission to accelerate businesses through innovation and speed.  

“Together, we’ll create a future where a single platform empowers clients to grow while making a positive impact.” 

Hristian Nedyalkov, chief executive officer and co-founder of Novus, added: “Novus’ mission was to create impact through the lens of finance. Our vision was to empower all consumers and corporates to do well while doing good. With Paynetics’ expertise, we’ll amplify our mission and reach new heights.” 

Image: Paynetics

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.