Provider of financial and payment infrastructure services, NovoPayment, has secured a $20 million investment from Morgan Stanley Expansion Capital, it was revealed on Tuesday.
Morgan Stanley Expansion Capital Invests $20 Million in NovoPayment
NovoPayment, which specialises in delivering digital banking, payments, and card solutions, is expected to use the funding to help accelerate its product and commercial growth and strengthen its position in the banking and payment vertical SaaS market.
NovoPayment’s platform aims to let banks, fintechs, and other financial institutions deliver digital financial and payment services.
Its suite of solutions includes digital wallets, instant account issuance, virtual cards, real-time payments, cross-border transfers, digital lending, and cash management. The company serves customers across Latin America, the Caribbean, and the United States.
Anabel Perez, CEO of NovoPayment, stated: “We are thrilled to receive this investment from Morgan Stanley Expansion Capital to support our continued innovation and service expansion to grow our customer base, further amplifying our positive impact in the markets in which we operate.”
Perez added that the company believes it is “well-positioned to compete in the embedded finance market by reducing friction and driving efficiency.”
Pete Chung, Managing Director and Head of Morgan Stanley Expansion Capital, highlighted NovoPayment’s strong position in the Latin American market. He emphasised the company’s role in modernising the region’s financial infrastructure through its comprehensive platform.
Nick Nocito, Executive Director at Morgan Stanley Expansion Capital, added: “We are very excited to support Anabel and her team of operators, who bring deep industry and local market expertise, as they continue to grow and deliver value to customers.”
Nocito continued, stating that “Anabel and NovoPayment are thought leaders in this space.”
