MONTREAL - Nuvei Corporation (NASDAQ:NVEI) (TSX:NVEI), a Canadian fintech company, has 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 swift method to access funds, improving cash flow by expediting payments directly through their ERP platforms.
The Invoice Financing solution is an addition to Nuvei's Accounts Receivable Automation suite, aimed at reducing Days Sales Outstanding (DSO) for its customers. This off-balance sheet offering allows businesses to obtain same day or next day cash, providing a financial lifeline during periods of high interest rates. It leverages existing payment transaction data to offer favorable rates, enabling businesses to quickly convert outstanding invoices into working capital.
Key features of Nuvei's Invoice Financing include the ability for businesses to access capital within 24 hours, enhancing 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 recorded in the ERP, aligning with the financed invoice for a seamless experience.
Philip Fayer, Nuvei Chair and CEO, stated, "By integrating our Invoice Financing services with leading ERP platforms, we're empowering businesses to unlock financial flexibility and optimize their cash flow management, ultimately supporting their success in the ever-evolving business landscape."
Nuvei is recognized for connecting clients to customers globally, offering a suite of services that includes payment acceptance, payout options, card issuing, and risk and fraud management. The company operates in over 200 markets, with local acquiring in 50 markets, supporting 150 currencies and 680 alternative payment methods.
The information in this article is based on a press release statement from Nuvei.
InvestingPro Insights
Nuvei Corporation's introduction of Invoice Financing services is a strategic move that complements its robust financial offerings. As the company continues to innovate, the latest real-time data from InvestingPro can provide investors with a deeper understanding of Nuvei's financial health and market performance.
According to InvestingPro Data, Nuvei has a Market Cap of approximately $4.52 billion USD. The company's revenue growth is impressive, with a 41.1% increase over the last twelve months as of Q4 2023, and an even higher quarterly revenue growth rate of 45.92% in Q1 2023. This significant growth in revenue underscores the company's expanding market footprint and could be indicative of the potential success of their new Invoice Financing service. Moreover, with a Gross Profit Margin of 81.27% in the same period, Nuvei demonstrates strong profitability potential from its core operations.
InvestingPro Tips suggest that while Nuvei's stock price movements are quite volatile, which may attract investors looking for high-growth opportunities, the company has experienced a strong return over the last month and the last three months, with price total 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 the new Invoice Financing service. Additionally, analysts predict that the company will be profitable this year, which may further bolster investor sentiment.
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