Nuvei launches ERP-integrated invoice financing service

Canadian fintech Nuvei has unveiled new invoice financing services that are integrated into enterprise resourcing planning (ERP) platforms, such as Sage and Acumatica, to provide instant access to working capital and free up cash flow.

Nuvei’s Invoice Financing solution enables businesses to expedite payments from any customer invoiced through their ERP in “one click”.

It means that businesses can meet immediate finance needs, such as paying suppliers or covering operational expenses.

The new ‘Invoice Financing’ service is an off-balance sheet extension of Nuvei’s flagship ‘Account Receivable Automation’ suite, and gives new and existing customers increased certainty that they will be provided with cash the same, or next, day.

One of the features of the new service is that loan and repayment general ledger entries are automatically reflected in the ERP system and associated with the financed invoice.

Businesses also benefit from “favourable rates” made available by existing payment transaction data.

Philip Fayer, Nuvei chair and chief executive officer, said: “By integrating our Invoice Financing services with leading ERP platforms, we’re empowering businesses to unlock financial flexibility and optimise their cash flow management, ultimately supporting their success in the ever-evolving business landscape.”

Earlier this month, Nuvei agreed to be taken private by global private equity investor Advent International, in a deal valuing Nuvei at $6.3 billion.

Fayer confirmed he will continue to lead Nuvei as chair and chief executive officer, while the company’s leadership team will also remain in place once the transaction has completed.

In a statement issued on April 1, Fayer said: “Bringing in a partner with such extensive experience in the payments sector will continue to support our development.”

Last year, American Express selected Nuvei as the first acquirer authorised to promote and sell Pay with Bank Transfer’s (PwBt’s) Open Banking-enabled payment method.

Through the partnership, Nuvei’s UK merchant partners can instantly integrate PwBt into their online checkout processes, enabling account-to-account payments between merchants and their customers.