MONTREAL – Nuvei Corporation (NASDAQ:NVEI) (TSX:NVEI), a Canadian fintech company, announced the launch of its new invoice financing services, now integrated with popular enterprise resource planning (ERP) systems such as Sage and Acumatica . The service, unveiled today, is designed to provide businesses with a quick way to access funds, improving cash flow by accelerating payments directly through their ERP platforms.
The Invoice Financing solution is an addition to Nuvei’s customer account automation suite, aimed at reducing days sales outstanding (DSO) for its customers. This off-balance sheet offering allows businesses to get same-day or next-day cash, providing a financial lifeline during times of high interest rates. It leverages existing payment transaction data to offer attractive rates, allowing businesses to quickly convert outstanding invoices into working capital.
Nuvei’s Invoice Financing key features include the ability for businesses to access capital within 24 hours, improving cash flow management by integrating one-click invoice financing into their existing ERP systems. This allows companies to meet immediate financial obligations such as paying suppliers or capitalizing on business opportunities.
The service also ensures that loan and repayment entries are automatically posted to the ERP, aligning them with the financed invoice for a seamless experience.
Philip Fayer, president and CEO of Nuvei, said: “By integrating our invoice financing services with leading ERP platforms, we are enabling businesses to unlock financial flexibility and optimize cash flow management, ultimately supporting their success in an ever-changing business landscape.”
Nuvei is known for connecting customers with customers globally, offering a suite of services that include payment acceptance, payment options, card issuing, and risk and fraud management. The company operates in over 200 markets, with local acquisitions in 50 markets, supporting 150 currencies and 680 alternative payment methods.
The information in this article is based on a press release from Nuvei.
Insights on InvestingPro
Nuvei Corporation’s introduction of Invoice Financing services is a strategic move that complements its robust financial offerings. As the company continues to innovate, InvestingPro’s latest real-time data may provide investors with a deeper understanding of Nuvei’s financial health and market performance.
According to InvestingPro Data, Nuvei has a market capitalization of approximately $4.52 billion. The company’s revenue growth is impressive, with an increase of 41.1% over the trailing twelve months as of Q4 2023 and an even higher quarterly revenue growth rate of 45.92% in Q1 of 2023. This significant revenue growth highlights the company’s expanding market presence and could be indicative of the potential success of their new invoice financing service. Furthermore, with a gross profit margin of 81.27% over the same period, Nuvei demonstrates strong profitability potential from its core businesses.
Tips from InvestingPro suggest that while Nuvei’s share price movements are quite volatile, which could attract investors looking for high growth opportunities, the company has posted strong returns over the past month and three months, with total price returns of 39.72% and 31.61%, respectively. This could be an indication of growing investor confidence in the company’s direction and offerings, including its new invoice financing service. Additionally, analysts expect the company to be profitable this year, which could further boost investor sentiment.
Investors looking for deeper analysis and additional InvestingPro recommendations for Nuvei can explore the comprehensive insights available on InvestingPro. There are 8 more tips listed on InvestingPro to help investors make more informed decisions. And those who are ready to take their investment strategy to the next level can use the coupon code PRONEWS24 to get an additional 10% discount on the annual or biennial Pro and Pro+ subscription.
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