Canadian payments technology provider Nuvei has received $270m in common equity funding, led by its current shareholders including private equity firm Novacap.

Canadian institutional investor Caisse de dépôt et placement du Québec also participated in the fundraising. The funding takes the valuation of the firm to $2bn.

Novacap (TMT) president and CEO Pascal Tremblay said: “We are extremely thankful for our LPs’ continued trust and support.

“This encourages us to continue our efforts to become even more performant at creating meaningful partnerships with entrepreneurs and management to build world-class companies.”

Through the fresh infusion, Nuvei intends to support its strategy of driving growth organically and through acquisitions.

Nuvei offers payment acceptance solutions, foreign exchange services, local acquiring, and value-added business services, among others, It supports over 150 currencies.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The business has a presence in the US, Canada, Europe, Latin America, and Asia Pacific.

Commenting on the development, Nuvei chairman and CEO Philip Fayer said: “I’d like to thank our partners for helping us continue to expand the breadth and reach of our fintech solutions around the world,”

“It further reinforces our strategy of growing organically and through complementary M&A activities, including technology partnerships, that will make a significant impact to the markets and businesses in which we operate.”

Earlier this year, Nuvei acquired SafeCharge International Group for around $889m.