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

Wednesday 20 April 2022 14:08 CET | News

US-based startup NovoPayment has raised USD 19 million in Series A funding round co-led by IDC  Ventures and Fuel Venture, to expand its 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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Keywords: expansion, funding, crowdfunding, API, online payments, online platform, BaaS, card scheme, payments infrastructure
Categories: Banking & Fintech
Companies: NovoPayment
Countries: Latin America, United States
This article is part of category

Banking & Fintech


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