Paynetics, the pioneering embedded finance provider, announced today its strategic acquisition of Novus, the UK’s first-ever “impact neobank.” This landmark deal underscores Paynetics’ commitment to advancing environmental, social, and governance goals while revolutionising the financial landscape with its powerful embedded finance suite.
Through its innovative approach, Novus has upgraded traditional banking by empowering conscious consumers to make a difference while seamlessly integrating financial services with event-driven positive impact initiatives. The unique corporate model allows users to contribute to causes effortlessly they feel emotionally connected to – with every transaction, a portion of revenue is automatically directed to an NGO selected by the customer. Through the Novus app, users can further track the carbon footprint their purchases generate and easily offset them via certified Carbon Removal Projects.
Paynetics will enhance such offerings further while expanding the ESG ecosystem across Europe, empowering its clients to push forward ESG initiatives through the corporate embedded finance service for a new and better tomorrow.
Ivo Gueorguiev, co-founder of Paynetics, remarked, “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, CEO & co-founder of Novus, added, “Novus’ mission was to create impact through the finance lens. Our vision was to empower all consumers and corporations to do well while doing good. With Paynetics’ expertise, we’ll amplify our mission and reach new heights.”
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