Nuvei Corporation
 | |
| Public | |
| Traded as | TSX: NVEI NASDAQ: NVEI |
| ISIN | 🆔 |
| Industry | |
| Founded 📆 | 2003 |
| Founder 👔 | Philip Fayer |
| Headquarters 🏙️ | , Montreal, Quebec , Canada |
Area served 🗺️ | Worldwide |
| Revenue🤑 |  US$724.5 million (2021)[1] |
| US$107 million (2021)[1] | |
| Total assets | US$3.45 billion (2021)[1] |
| Total equity | US$2.02 billion (2021)[1] |
| Members | |
Number of employees | 1,500+ |
| 🌐 Website | nuvei |
| 📇 Address | |
| 📞 telephone | |
Nuvei is a global payments technology company with headquarters in Montreal. Nuvei provides businesses with pay-in and payout options including card issuing, banking, risk and fraud management services, and enables them to accept more than 570 alternative payment methods.[2] The company went public in September 2020 with a $700 million initial public offering on the Toronto Stock Exchange.[3] At the time, the Canadian IPO was the largest ever technology company offering on the Toronto Stock Exchange. A year later in October 2021, Nuvei closed a $424.8 million IPO on Nasdaq.[4]
History[edit]
Nuvei, formerly Pivotal Payments, was established in 2003 by Philip Fayer.[5] Fayer founded the company while taking some time off from attending Concordia University.[5] The company offered electronic payment processing and merchant services for point of sale and online businesses.[5] Since its founding, Nuvei has expanded significantly, acquiring clients and other similar operations through acquisitions.[5]
In 2006, the company gained an investment from Goldman Sachs totaling CA$60 million.[5] Goldman Sachs funded its acquisition strategy which helped the company execute several acquisitions by 2010.[5] By then the company had grown to about 300 employees in Canada and the United States and reported a yearly revenue of CA$150 million.[6]
In September 2017, Montreal-based private equity firm Novacap and the public pension fund manager Caisse de dépôt et placement du Québec announced a joint investment in the company. During the funding series, the two investment firms valued the company at CA$525 million (US$424 million). [7]
In May 2019, Nuvei stated its intentions to make an offer to purchase SafeCharge.[8]
In August 2019, Nuvei completed its acquisition of SafeCharge for CA$1.1 billion (US$889 million), based on the price of US$5.55 for each SafeCharge share, representing a 25% premium to the London-listed company's stock.[9][10]
In September 2020,[11] Montreal payments-processing company Nuvei Corp. soared in its debut as a public company after raising US$700 million in the largest technology initial public offering ever on the Toronto Stock Exchange. Nuvei stock, which is quoted in Canadian and U.S. dollars, opened at C$45.25 and US$34 as it began trading on an “if, as and when issued” basis just before formal launch. That’s more than 30 percent higher than its US$26 issue price. The stock closed at C$45.05, giving Nuvei a market capitalization of C$5.7 billion – and making it one of Canada’s most valuable publicly traded technology companies.
In November 2020, Nuvei completed the acquisition of Smart2Pay as part of a drive to strengthen its presence in high-growth digital commerce verticals.[12]
A month later in December 2020, Nuvei announced it was acquiring Base Commerce, a payment processing company specializing in bankcard and ACH payment processing.[13]
In August 2021, Nuvei completed the acquisition of payment provider Mazooma, a transaction to expand its portfolio of North American payment options, with instant bank-to-bank payments for pay-ins and payouts, as well as real time payments for accelerated withdrawals.[14]
In September 2021, Nuvei acquired payments company Paymentez to expand in Latin America.[15]
In October 2021, Nuvei filed for an IPO on Nasdaq.[16]
Nuvei's annual results for the 12 months to the end of December 2021 published in March 2022 showed the combined organization processes over $95 billion in annual transaction volume from clients across the globe.[17]
Management Team[edit]
- Philip Fayer - Chairman & CEO
- Yuval Ziv - President [18]
- David Schwartz - Chief Financial Officer
- Neil Erlick - Chief Corporate Development Officer
- Max Attias - Chief Technology Officer
- Ed Garcia - Chief Operating Officer
- Nikki Zinman - Chief People Officer[19]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 "Nuvei".
- ↑ "Nuvei Announces Second Quarter 2022 Results". investors.nuvei.com. Retrieved 2022-08-10.
- ↑ "Payment firm Nuvei launches on Toronto Stock Exchange Thursday in most valuable tech IPO in TSX's history". CBC News. September 17, 2020.
- ↑ "Nuvei Announces Closing of US $ 424,833,000 Initial Public Offering in the United States". investors.nuvei.com. Retrieved 2022-04-13.
- ↑ 5.0 5.1 5.2 5.3 5.4 5.5 Martin, Megan (April 7, 2010). "Thinking small forges big payoff". National Post. Retrieved January 10, 2018.
- ↑ Marcoux, Aude Marie (August 12, 2010). "Philip Fayer, un leader fonceur". Les Affaires. Retrieved January 10, 2018.
- ↑ Mason, Quinn (September 27, 2017). "La Caisse and Novacap make joint investment, value Pivotal Payments at $525 million". Montreal in Technology. Retrieved January 10, 2018.
- ↑ Nuvei (May 28, 2019). "Canadian payments technology firm Nuvei announces a firm intention to make an offer for AIM traded SafeCharge for US$889 million". GlobeNewswire News Room. Retrieved November 17, 2019.
- ↑ "Canadian payments firm Nuvei acquires SafeCharge for $889 million". mobilepaymentstoday.com. August 1, 2019. Retrieved November 17, 2019.
- ↑ "Nuvei completes acquisition of SafeCharge for US $889 million, strengthening its global payment technology and reach". The Canadian Business Journal. 2019-08-01. Retrieved 2020-03-20.
- ↑ September 2020 IPO
- ↑ "Nuvei completes acquisition of Smart2Pay, expands alternative payment methods offering". thepaypers.com. Retrieved 2022-04-13.
- ↑ "Nuvei to acquire Base Commerce". Finextra Research. 2020-12-01. Retrieved 2022-04-13.
- ↑ "Nuvei finalises acquisition of payment provider Mazooma". iGaming Business. 2021-08-04. Retrieved 2022-04-13.
- ↑ "Nuvei acquires Paymentez".
- ↑ Reuters (2021-10-04). "Payments tech firm Nuvei files for U.S. IPO a year after Toronto listing". Reuters. Retrieved 2022-04-13.
- ↑ "Nuvei Announces Fourth Quarter and Fiscal Year 2021 Results".
- ↑ "Nuvei promotes Yuval Ziv to president". February 18, 2022.
- ↑ "Nuvei - Governance - Executive Management".
External links[edit]
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