Founded2003; 20 years ago (2003)
FounderPhilip Fayer
Montreal, Quebec
Area served
RevenueIncrease US$843.3 million (2022)[1]
Increase US$62.0 million (2022)[1]
Total assetsIncrease US$3.5 billion (2022)[1]
Total equityIncrease US$2.0 billion (2022)[1]
Number of employees
Footnotes / references

Nuvei is a payment processor headquartered in Montreal, Canada. Nuvei provides businesses with pay-in and payout options including card issuing, banking, risk and fraud management services, and enables them to accept more than 570 alternative payment methods.[2] The company went public in September 2020 with a $700 million initial public offering on the Toronto Stock Exchange.[3] At the time, the Canadian IPO was the largest ever technology company offering on the Toronto Stock Exchange. A year later, in October 2021, Nuvei closed a $424.8 million IPO on Nasdaq.[4]


Nuvei, formerly Pivotal Payments, was established in 2003 by Philip Fayer.[5] Fayer founded the company while taking some time off from attending Concordia University.[5] The company offered electronic payment processing and merchant services for point of sale and online businesses.[5] Since its founding, Nuvei has expanded significantly, acquiring clients and other similar operations through acquisitions.[5]

In 2006, the company received an investment from Goldman Sachs totaling CA$60 million to fund its acquisition strategy, which helped the company execute several acquisitions by 2010.[5] By this time, the company had grown to about 300 employees in Canada and the United States and reported a yearly revenue of CA$150 million.[6]

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).[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, the company raised US$700 million in the largest technology initial public offering to date on the Toronto Stock Exchange.[10]

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 specializing in bankcard and ACH payment processing.[12]

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.[13] In September 2021, Nuvei acquired payments company Paymentez to expand in Latin America.[14]

In October 2021, Nuvei filed for an IPO on Nasdaq.[15]

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.[16]

In January 2023, Nuvei announced that it plans to buy Nasdaq-listed competitor Paya Holdings Inc. for approximately US$1.3-billion.[17]

On April 17, 2023, Nuvei announced an investment from Hollywood actor and investor Ryan Reynolds.[18]


  1. ^ a b c d e "Nuvei".
  2. ^ "Nuvei Announces Second Quarter 2022 Results". Retrieved August 10, 2022.
  3. ^ "Payment firm Nuvei launches on Toronto Stock Exchange Thursday in most valuable tech IPO in TSX's history". CBC News. September 17, 2020.
  4. ^ "Nuvei Announces Closing of US $ 424,833,000 Initial Public Offering in the United States". Retrieved April 13, 2022.
  5. ^ a b c d e Martin, Megan (April 7, 2010). "Thinking small forges big payoff". National Post. Retrieved January 10, 2023.
  6. ^ Marcoux, Aude Marie (August 12, 2010). "Philip Fayer, un leader fonceur". Les Affaires. Retrieved January 10, 2018.
  7. ^ Mason, Quinn (September 27, 2017). "La Caisse and Novacap make joint investment, value Pivotal Payments at $525 million". Montreal in Technology. Retrieved January 10, 2018.
  8. ^ "Canadian payments firm Nuvei acquires SafeCharge for $889 million". August 1, 2019. Retrieved November 17, 2019.
  9. ^ "Nuvei completes acquisition of SafeCharge for US $889 million, strengthening its global payment technology and reach". The Canadian Business Journal. August 1, 2019. Retrieved March 20, 2020.
  10. ^ Silcoff, Sean (September 17, 2020). "Nuvei stock soars after largest tech IPO in TSX history". Retrieved September 28, 2022.
  11. ^ "Nuvei completes acquisition of Smart2Pay, expands alternative payment methods offering". Retrieved April 13, 2022.
  12. ^ "Nuvei to acquire Base Commerce". Finextra Research. December 1, 2020. Retrieved April 13, 2022.
  13. ^ "Nuvei finalises acquisition of payment provider Mazooma". iGaming Business. August 4, 2021. Retrieved April 13, 2022.
  14. ^ "Nuvei acquires Paymentez".
  15. ^ "Payments tech firm Nuvei files for U.S. IPO a year after Toronto listing". Reuters. October 4, 2021. Retrieved April 13, 2022.
  16. ^ "Nuvei Announces Fourth Quarter and Fiscal Year 2021 Results".
  17. ^ O’Kane, Josh (January 9, 2023). "Montreal's Nuvei to buy competing U.S. payments firm for US$1.3-billion". The Globe and Mail. Retrieved January 9, 2023.
  18. ^ "Ryan Reynolds announces investment in Canadian fintech Nuvei".