Morgan Stanley Expansion Capital has invested $20 million in embedded financial and payment infrastructure service provider NovoPayment.
NovoPayment is a SaaS provider working with banks, financial institutions, neo-banks, digital merchants and fintechs.
The firm's flagship platform offers a suite of tools ranging from digital wallets, instant issuance of deposit accounts and virtual cards to RTP, cross-border transfers, digital lending and cash management.
Headquartered in the US, NovoPayment operates in 15 markets across North America, Latin America and the Caribbean.
Anabel Perez, CEO, NovoPayment, says: “As the financial services landscape continues to evolve, we believe NovoPayment is well-positioned to compete in the embedded finance market by reducing friction and driving efficiency.”
Pete Chung, MD and head, Morgan Stanley Expansion Capital, adds: “The company’s mission-critical infrastructure enables the modernization of marquee banks and financial institutions in the region through a comprehensive, full-stack platform.”