NovoPayment receives Series A funding to expand full-stack banking API platform

The startup was founded in 2007 but it failed to raise necessary funds to develop in the past 15 years, after a previous seed funding of an undisclosed size from its owners. NovoPayment activates as a global BaaS business that focuses on offering its in-house built API platform to customers in the LATAM market. It has developed a full-stack, multicurrency solution with tree major categories – card solutions, data banking, and payment infrastructure.

Around 85% of the company’s clients are located in markets across LATAM, including Chile, Columbia, Mexico, Peru, and Venezuela, with the rest of the clients mainly coming from the US.

NovoPayment will use the funds round to gain new customers and expand its reach in the US, as well as add new capabilities to its current platform and hire more employees.  
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