Nuvei Goes Private in Landmark $6.3 Billion Deal

April 16, 2024
min read

In a significant move within the payments industry, Canadian payments FinTech Nuvei has announced its transition to a private company through a $6.3 billion sale to the private equity firm Advent International. This decision marks a new chapter for Nuvei, with CEO Philip Fayer expressing excitement about the partnership with Advent and the opportunities it presents for customers, employees, and innovation.

Under Fayer's leadership, Nuvei has consistently prioritized accelerating customers' revenue, driving technological innovation, and investing in talent development. With nearly a quarter of the equity under his control, Fayer is expected to continue leading the firm towards growth and success in the private realm.

Nuvei's recent milestones, including its acquisition of payment platform Paya and strategic investments, reflect its commitment to expanding its presence in high-growth sectors such as healthcare, nonprofit, government, and B2B markets.

Looking ahead, Nuvei remains poised to leverage its expertise in integrated payments to drive operational efficiencies, reduce costs, and empower merchants through innovative solutions. As the role of independent software vendors evolves, Nuvei continues to champion embedded payments as a means to accelerate revenue growth for both vendors and their clients. We look forward to keeping an eye on what Nuvei does next, and we will keep you posted with further news.