Bulgaria's Paynetics Acquires UK Digital Bank Novus

Bulgaria-based embedded finance fintech Paynetics completed the acquisition of Novus, a B-Corp certified digital bank based in the UK, in early 2024. Paynetics provides embedded finance and payment infrastructure services, and the acquisition of a licensed digital bank significantly strengthens its ability to offer banking-as-a-service capabilities directly. Novus brings a UK banking presence and B-Corp certification, signaling alignment with sustainability-focused banking.

The deal allows Paynetics to expand its geographic reach into the UK while gaining direct banking infrastructure rather than relying solely on partner banks. Financial terms of the transaction were not publicly disclosed. The acquisition reflects a broader trend of embedded finance providers seeking to own banking licenses to offer more comprehensive BaaS solutions.