NovoPayment, a leading provider of embedded financial and payment infrastructure services, has recently secured $20 million in funding from Morgan Stanley Expansion Capital. This investment represents a crucial milestone for the US-headquartered company, which specializes in offering an extensive suite of financial tools designed for banks, financial institutions, neo-banks, digital merchants, and FinTech firms. NovoPayment’s services cover a broad range, including digital wallets, instant issuance of deposit accounts, virtual cards, real-time payment capabilities, cross-border transfers, digital lending, and cash management solutions.
The new capital will be utilized to further develop NovoPayment’s innovative platform and extend its presence in the embedded finance market, aiming to streamline financial processes and boost efficiency. NovoPayment aims to strengthen its position as a key player in modernizing financial services across North America, Latin America, and the Caribbean. The infusion of funds will enable the company to enhance its technology and expand its reach, ensuring it remains at the forefront of financial innovation and transformation.
Anabel Perez, CEO of NovoPayment, shared the company’s strategic vision to excel in the evolving financial services landscape by minimizing inefficiencies. By focusing on efficient service delivery, NovoPayment intends to capitalize on the growing demand for seamless financial solutions. Pete Chung, Managing Director and head of Morgan Stanley Expansion Capital, emphasized the critical role of NovoPayment’s infrastructure in modernizing regional banks and financial institutions through a comprehensive, full-stack platform. This investment reflects a shared strategic alignment between NovoPayment and its investors.
Ultimately, the collaboration underscores NovoPayment’s mission to provide essential, modernizing infrastructure for banks and financial entities. The funding is set to significantly enhance NovoPayment’s capabilities, allowing the company to further its vision of delivering efficient and frictionless financial services. Looking ahead, NovoPayment’s strengthened platform will aim to drive innovation in the financial industry, paving the way for the future of finance in multiple regions.
