NovoPayment Gets $20 Million Investment From Morgan Stanley
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US-based payment infrastructure provider, NovoPayment, has announced that Morgan Stanley Expansion Capital has invested $20 million for its service expansion. NovoPayments specializes in delivering card, payment, and digital banking solutions.
According to the report, the fund will be used to expand NovoPayments and scale commercial partnerships. The company also wants to expand its operations and gain more customers in the payment service industry.
As a vertical-focused SaaS, NovoPayment enables FinTechs, digital merchants, neo-banks, financial institutions, and other banks to provide customized digital payment and financial services. The firm enables these banks to improve operational margins and improve customer experiences.
NovoPayment Wants To Expand Its Operations And Customer Base
NovoPayments offers a delivery model and innovative business that combines easy-to-integrate tools with secure, scalable, and expansive compliant infrastructure. The aim of the company is to drive compelling digital initiatives and fill market gaps, enabling businesses to succeed in the ever-growing digital space.
NovoPayments’ activities have attracted several top companies that want to invest in the firm. Morgan Stanley’s latest investment is evidence that the firm is heading in the right direction, and the firm says it wants to continue attracting major investors.
NovoPayments is offering a flagship platform with a wide range of financial and payments solutions from instant issuance of deposit accounts to digital wallets. It also offers cash management solutions, digital lending, cross-border transfers, virtual cards, and deposit accounts to users.
NovoPayment says it serves 15 markets across the United States, the Caribbean, and Latin America.
Chief Executive Officer of NovoPayment, Anabel Perez, commented on the additional funding. He noted that the company is excited for the investment from Morgan Stanley to support the firm’s continued service expansion and innovation.
The recent investment will help the firm to expand its operations and customer base. Perez says this amplifies the positive impact it has made in the payments industry in which it operates.
NovoPayment Will Help Companies Handle Payment Issues
The investment is coming as the financial services space continues to grow and evolve. He added that NovoPayment will continue to expand its operations and remained strong to compete favorably in the rapidly expanding financial market to drive efficiency and reduce friction.
Head of Morgan Stanley Expansion Capital, Pete Chung, stated that the company picked interest in NovoPayments because of the payment platform’s robust technology tools.
The firm’s enhanced infrastructure will enable the modernization of financial institutions and marquee banks in the region. He believes NovoPayment is well-positioned to make things easier for financial institutions dealing with payment issues.
