Existing investors, including private equity firm Novacap and the pension Caisse de dépôt et placement du Québec, participated in the round. (The Logic)
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Existing investors, including private equity firm Novacap and the pension Caisse de dépôt et placement du Québec, participated in the round. (The Logic)
Talking point: Nuvei was last valued at $525 million, when Novacap and the Caisse purchased a majority stake in the firm. This quintupling in value is partially due to Nuvei acquiring SafeCharge for US$889 million, leaving it with a nearly identical amount of debt. Nuvei will focus on growth with this round, both within its own business and by acquiring others. The firm is the fifth Canadian company to raise over $200 million this year. It’s also the latest Quebec firm to bring in a big round with an eye on picking up smaller rivals. When Coveo raised $227 million in November, its CEO Louis Têtu told The Logic he wanted a war chest so that if the industry or the economy takes a downturn, he’s in a strong position to acquire.
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