Caisse participating in financing round for Quebec payment-tech provider
BY Benefits Canada Staff | December 16, 2019
The Caisse de dépôt et placement du Québec is taking part in a $358-million round of equity financing by Montreal-based Nuvei, a global payment-technology provider.
Nuvei offers omni-channel, end-to-end, payment-acceptance solutions, foreign-exchange services, streamlined payouts and more for clients in Asia Pacific, Canada, Europe, Latin America and the United States.
The Caisse is already a shareholder in Nuvei, which is currently valued at $2.65 billion. Private equity firm Novacap and some of its limited partners are also participating in this latest financing.
The financing will allow the company to increase its plans for both organic and acquisition-related growth, according to a press release. In 2019, it acquired multiple companies, including SafeCharge International Group Ltd., another global payment-technology company.
“Our partnership continues ahead to support the global expansion of a leading Quebec tech firm,” said Charles Émond, executive vice-president of private equity and strategic planning for Quebec at the Caisse. “Since this initial investment, the CDPQ and its partners are proud to have sustained Nuvei’s growth, especially through the transformational acquisition of SafeCharge, and to have supported the emergence of a world-class, global player in its field.”
This article originally appeared on CIR’s companion site, Benefitscanada.com. Read the full story here.