Nuvei

Nuvei, formerly Pivotal Payments, was established in 2003 by Philip Fayer.[4] Fayer founded the company while taking some time off from attending Concordia University.[4] The company offered electronic payment processing and merchant services for point of sale and online businesses.[4] Since its founding, Nuvei has expanded significantly, acquiring clients and other similar operations through acquisitions.[4]

In 2006, the company gained an investment from Goldman Sachs totalling CA$60 million.[4] Goldman Sachs funded its acquisition strategy which helped the company execute several acquisitions by 2010.[4] 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.[5]

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). [6]

In May 2019, Nuvei stated its intentions to make an offer to purchase SafeCharge.[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,[10] 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 capitalisation 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.[11]

A month later in December 2020, Nuvei announced it was acquiring Base Commerce, a payment processing company specialising in bankcard and ACH payment processing.[12]

In May 2021, Nuvei announced the $250m acquisition of crypto payments business Simplex.[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 with proceeds used to beef up its finances and pursue growth strategies.[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]

• 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]

• Official website