KoreConX selects Nuvei to power payments for its private investments platform

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Nuvei Corporation has been selected as the primary payments partner for KoreConX, an infrastructure technology platform that enables individuals to invest in private companies with regulated intermediaries. Through this partnership, private businesses can accept SEC-compliant investments from as little as $50 via card payments and A2A transactions. KoreConX is the first infrastructure platform fully compliant with SEC regulations.

Nuvei technology is enabling individuals to make retail investments in private businesses compliantly

MONTREAL and NEW YORK, Nov. 1, 2023 /PRNewswire/ -- 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.

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

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.

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."

About KoreConX

Founded in 2016, KoreConX is the first secure, All-In-One platform that manages private companies' capital market activity and stakeholder communications. With an innovative approach and to ensure compliance with securities regulations and corporate law, KoreConX offers a single environment to connect companies to the capital markets and now secondary markets. Additionally, investors, broker-dealers, law firms, accountants and investor acquisition firms, all leverage our eco-system solution.

About Nuvei 

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei's modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and 634 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration. 

For more information, visit www.nuvei.com

NVEI-IR

Contact:
Public Relations
alex.hammond@nuvei.com

Investor Relations
IR@nuvei.com

 

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SOURCE Nuvei

FAQ

What is the partnership between Nuvei and KoreConX?

Nuvei has been selected as the primary payments partner for KoreConX, allowing private businesses to accept SEC-compliant investments from individuals.

What is the significance of the partnership?

The partnership enables individuals to invest in private companies compliantly and securely, democratizing investment opportunities.

What is the minimum investment amount?

Private businesses can accept investments from as little as $50 via card payments and account-to-account transactions.

What is KoreConX's role in the private investment sector?

KoreConX's technology infrastructure connects broker-dealers, funding platforms, and investment services to the private investment sector.

What is the market size for investment in private companies?

The market has grown exponentially since the introduction of the JOBS Act in 2012, with a market cap in the billions of dollars and rapidly accelerating.

What makes KoreConX unique?

KoreConX is the first infrastructure platform that is fully compliant with SEC regulations, ensuring investor trust and compliance.

What are the benefits of partnering with Nuvei?

Nuvei offers capabilities in technology, reach, and customer services, providing a deep understanding of KoreConX's business and supplementing trust in the eyes of investors.

What is the CEO's perspective on the partnership?

KoreConX CEO Oscar A. Jofre believes the partnership is crucial in democratizing investment in private companies and offering a compliant mechanism for investing.

What is Nuvei's CEO's perspective on the partnership?

Nuvei CEO Philip Fayer is excited to partner with KoreConX as it reshapes the investing landscape for private businesses.

What is the goal of the partnership?

The goal is to facilitate SEC-compliant investments for entrepreneurs and private businesses, ultimately democratizing investing.

What impact does the partnership have on investors?

The partnership provides a secure and compliant platform for investors to participate in the private investment sector.

What impact does the partnership have on private businesses?

Private businesses can now accept regulated investments from individuals, expanding their funding opportunities.

What is the benefit of Nuvei's international reach?

Nuvei's global partnership allows private businesses in the U.S. connected to KoreConX to accept investments from retail investors worldwide.