Bulgarian banking provider Paynetics acquires Novus, UK’s neobank

Sofia-based finance provider Paynetics has announced the acquisition of Novus, a Bulgarian-UK neobank. The deal amount was not disclosed. Novus claims it will strengthen its commitment to environmental, social and governance (ESG) principles.

• Novus was founded in 2020 as a “neobank” that integrates financial services with event-driven positive impact initiatives. It enables users to monitor their carbon footprint and earn cashback for sustainable purchasing choices through its app, where customers can obtain rewards from 130 brand partners.
• In addition, its corporate model allows users to contribute to causes they feel connected to, with a portion of revenue automatically directed to an NGO of a customer’s choice upon the completion of any transaction.

Novus’ mission was to create impact through the lens of finance. Our vision was to empower all consumers and corporations to do well while doing good. With Paynetics’ expertise, we’ll amplify our mission and reach new heights,

Hristian Nedyalkov, CEO & co-founder of Novus, says.

• Paynetics is a licensed provider of end-to-end payment services. It enables non-financial companies to embed finance. The company offers individual and business accounts with dedicated IBANs and UK accounts, supporting SEPA credit, SEPA Instant, FasterPayments, BACS, and some local non-Euro settlements. It also provides virtual and physical Visa and Mastercard cards that are enabled for Apple and Google Pay with customisable branding.

According to the buyer, this deal underscores Paynetics’ commitment to advancing environmental, social, and governance goals while expanding the ESG ecosystem across Europe.