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Nuvei Corporation

Company type	Public
Traded as	TSX: NVEI Nasdaq: NVEI
Industry	Financial services Payment processor E-commerce
Founded	2003; 21 years ago (2003)
Founder	Philip Fayer
Headquarters	Montreal, Quebec , Canada
Area served	Worldwide
Revenue	US$1.19 billion (2023)[1]
Operating income	US$117 million (2023)[1]
Net income	US$−696 million (2023)[1]
Total assets	US$5.14 billion (2023)[1]
Total equity	US$2.04 billion (2023)[1]
Number of employees	2,202 (2023)[2]
Website	nuvei.com
Footnotes / references [1][2]

Nuvei Corporation is a payment processor headquartered in Montreal, Canada. Nuvei provides businesses with pay-in and payout options.^[3] The company went public in September 2020 with a $700 million initial public offering on the Toronto Stock Exchange.^[4] 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.^[5]

Nuvei, formerly Pivotal Payments, was established in 2003 by Philip Fayer.^[6] Fayer founded the company while taking some time off from attending Concordia University.^[6] The company offered electronic payment processing and merchant services for point of sale and online businesses.^[6] Since its founding, Nuvei has expanded significantly, acquiring clients and other similar operations through acquisitions.^[6]

In 2006, the company received an investment from Goldman Sachs totaling CA$60 million to fund its acquisition strategy.^[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 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.^[8][9]

In September 2020, the company raised US$700 million in the largest technology initial public offering to date on the Toronto Stock Exchange.^[10]

In November 2020, Nuvei completed the acquisition of Smart2Pay as part of a drive to strengthen its presence in high-growth digital commerce verticals.^[11] A month later in December 2020, Nuvei announced it was acquiring Base Commerce, a payment processing company specializing in bankcard and ACH payment processing.^[12]

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.^[13] In September 2021, Nuvei acquired payments company Paymentez to expand in Latin America.^[14]

In October 2021, Nuvei filed for an IPO on Nasdaq.^[15]

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.^[16]

In January 2023, Nuvei announced that it plans to buy Nasdaq-listed competitor Paya Holdings Inc. for approximately US$1.3-billion.^[17]

On April 17, 2023, Nuvei announced an investment from Hollywood actor and investor Ryan Reynolds.^[18]

On April 1, 2024, it was announced that Advent International had agreed to buy Nuvei for $6.3 billion in an all-cash deal, taking it private.^[19]

• Official website