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Friday, December 06, 2024

KoreConX selects Nuvei to power payments for its private investments platform

Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has been selected by KoreConX, a leading infrastructure technology platform that enables individuals to invest in private companies with regulated intermediaries, as its primary payments partner.

Through its global partnership with Nuvei, private businesses based in the U.S. that are connected to the KoreConX infrastructure platform can accept SEC-compliant investments from as little as $50 via card payments and account-to-account transactions. Nuvei’s international reach connects these businesses to potential retail investors wherever those investors are located.

Private businesses can accept SEC-compliant investments from as little as $50 via card payments and A2A transactions.

In addition to investors and businesses, the KoreConX technology infrastructure connects broker-dealers, FINRA registered funding platforms, Marketplaces ATS and auxiliary investment services to the private investment sector. KoreConX’s partnership with Nuvei enables all parties in the ecosystem, including businesses and investors, to interact on a modern scalable payments technology infrastructure that is fully capable of streamlining compliant investor transactions.

The market for investment in private companies has grown exponentially since the introduction of the Jumpstart Our Business Startups (JOBS) Act in 2012, which eased the requirements for private businesses and entrepreneurs to raise capital following the 2008 financial crisis to boost economic growth. Many industry participants reacted to the new legislation by creating inefficient and non-compliant solutions that have fallen outside SEC regulations and been subject to redemptions and fines. KoreConX is the first infrastructure platform that is fully compliant with SEC regulations.

KoreConX CEO and Co-Founder Oscar A. Jofre commented on the announcement: “KoreConX is democratizing investment in private companies, enabling individuals to invest alongside institutions safely, securely, and compliantly for the first time. In 2012 this wasn’t possible at all; today the market cap for this industry is billions of dollars and still rapidly accelerating. But trust is everything, and KoreConX is leading the way in offering a mechanism for investing that is compliant with SEC regulations.”

Jofre continued: “We needed a payments partner with capabilities that extend beyond our requirements from a technology, reach, and customer services standpoint. It was also critical to find a payments partner with a deep understanding of our business, and that could supplement that level of trust and comfort in the eyes of investors that underpin our platform. We’re delighted to have found a partner in Nuvei that exceeded our expectations across all of these important mandates.”

Nuvei Chair and CEO Philip Fayer added: “We’re excited to partner with KoreConX as it reshapes the investing landscape for private businesses. Facilitating SEC-compliant investments for entrepreneurs and private businesses is a game-changer for democratizing investing.”

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