Paynetics acquires ‘impact’ banking app Novus

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Paynetics, a Bulgarian embedded finance provider, is making an ESG play by acquiring UK’s impact neobank Novus. The financial terms were not disclosed.
​Novus, which launched in 2022 after a USD 3 million crowdfunding campaign, provides users with a card that, when used for purchases, donates ‘impact’ points to environmental and social causes of their choice. Customers can also track and offset their carbon footprint using the app.
Paynetics says it will expand the Novus offering while also assisting clients with their ESG efforts via its embedded finance service. 
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