Nuvei is a global payments technology company headquartered in Montreal. Its payments business spans more than 200 markets. It has local card acquiring in 46 markets and businesses that can accept more than 150 currencies and 530 alternative payment methods, including cryptocurrencies.

The company began life as Pivotal Payments and was established in 2003 by Phillip Fayer. Fayer founded the company after taking a stint off his time at university. From the offset, Nuvei was focused on what it is to this day: electronic payment processing and merchant services for point of sale and online businesses.

In 2006, the company gained an investment from Goldman Sachs totaling CA$60m, which helped the company execute several acquisitions by 2010. The company grew to about 300 employees in Canada and the US, reporting a yearly revenue of CA$150m.

The next big expansion occurred in 2017 when Montreal-based private equity firm Novacap teamed up with a Québec public pension fund manager to launch a joint venture into the company. These two investment firms valued the company at CA$525m.

The new influx of money allowed Nuvei to expand further – in 2019, Nuvei purchased SafeCharge, an electronic money institution, for $1.1bn. In 2020, the company entered the Nasdaq and raised US$700m on its initial public offering on the Toronto stock exchange. It closed at CA$5.7bn making it one of Canada’s most valuable publicly traded companies.

Nuvei’s stock continued to rise as it bought out competitors such as Smart2Pay, a payments service provider and BaseCommerce, a payment processing company in 2020. The next year they acquired Simplex, a crypto exchange platform, for $250m.

In August 2021, Nuvei completed the acquisition of payment provider Mazooma, a transaction that expanded its portfolio in North America, quickly followed by its purchase of Paymentez as it made inroads into Latin America.

Key personnel:
Chief Operating Officer, Digital Payments: Max Attias
Chief Data & Analytics Officer: Netanel Kabala
Chief Corporate Development Officer: Neil Erlick
Chief People Officer: Nikki Zinman
President: Yuval Ziv
President (North America): Mark Pyke

Company size: 1300+


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