Nuvei buys Cyprus fintech firm SafeCharge
The Canadian payments services provider Nuvei has announced its merger with Cyprus-based SafeCharge International Group Ltd. The total deal value is $889 million. SafeCharge Group provides international payment services including card acquiring, payment processing, e-checkout and other solutions.
SafeCharge is a Cyprus fintech firm listed on the London Stock Exchange. Some 50 of its 400 staff are based in Cyprus. Key areas of operation are in Europe. SafeCharge is a licensed Electronic Money Institution (EMI) authorised and regulated by the Central Bank of Cyprus.
The merger will create a company with an estimated revenue of $300 million and a transaction volume of $30 billion. The EBITDA of the combined firm is estimated at about $100 million.
SafeCharge will now expand its business in Nuvei’s geographical areas of Canada and United States, while Nuvei will benefit from SafeCharge’s operations that are focused in European markets.
The Centre for Innovation & Entrepreneurship acts as a business incubator, consultant and mentor for innovation and entrepreneurship world-wide. We are based in Cyprus and work with a wide range of partners and welcome cooperation inquiries. For further information, please contact us.