Nuvei Nuvei is a privately owned electronic payment processing company. The Montreal-based company is Canada's largest private and non-bank payment processor . As of a September 2017 valuation, the company is estimated to be worth US$424 million and processes over $14 billion in transactions annually.History Nuvei was established in 2003 by Philip Fayer. Fayer founded the company while taking some time off from attending Concordia University . The company offered electronic payment processing and merchant services for point of sale and online businesses . Since its founding, Nuvei has expanded significantly, acquiring clients and other similar operations through acquisitions. In 2006, the company gained an investment from Goldman Sachs totaling CA$60 million. Goldman Sachs funded its acquisition strategy which helped the company execute several acquisitions by 2010. By then the company had grown to about 300 employees in Canada and the United States and reported a yearly revenue of CA$150 million.In September 2017, Montreal-based private equity firm Novacap and the Canadian government-owned investment firm 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. In May 2019 , Nuvei stated its intentions to make an offer to purchase SafeCharge .In August 2019, Nuvei completed its acquisition of SafeCharge for CA$1.1bllion, based on the price of US$5.55 for each SafeCharge share, representing a 25% premium to the London-listed company's stock. The combined organization processes over $34 billion in annual transaction volume from clients across the globe .Management Team
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