A leading Belgian fintech company specialising in digital payment solutions has announced the establishment of its UK business operations in Newcastle.
Paynovate is an e-money institution working across Europe and the UK to provide a trusted and regulated platform to power payment solutions.
Licenced by both the National Bank of Belgium and the Financial Conduct Authority (FCA), Paynovate offers a range of services across payment issuing, acquiring and IBAN accounts.
The company’s decision to locate in Newcastle is testament to the city’s growing reputation for financial services technology and was informed by the availability of top-level talent emanating from two city centre universities, further education colleges and specialist skills programmes.
Paynovate joins a strong cluster of payment companies across the region including Pockit, Kani, Paid, Thredd and savings platform provider Newcastle Strategic Solutions, which are each playing a key role in facilitating global transactions all over the world from Newcastle and the wider North East.
Founded in Brussels, Paynovate recently launched a new operation in Paris and is looking to recruit new team members as it expands, with a particular focus on key roles in business development, customer services and IT.
Robert Masse, Founder and CEO, Paynovate, said:
“Newcastle’s position as a leading financial services hub with a diverse talent pool made it a natural choice for Paynovate.
“As we look to expand our services across the UK, the Newcastle office gives us a firm base from which we can grow.”
Joanne Parker, UK Branch Director, Paynovate:
“With a long history of innovation in technology, Newcastle felt like the right location for us to deliver on our mission to provide cutting-edge digital payment solutions.
“We look forward to becoming an integral part of the fintech ecosystem in the North East and making a positive impact on the local community and beyond.”
Over the past decade, Paynovate has grown from a single payment processing contract provider into an established acquirer processing over €200m per month. The company’s support team also provides native language customer services for all 27 EU countries and the UK where it is licenced to operate.
Dawn Dunn, Digital and Tech Sector Lead, Invest Newcastle, said:
“Newcastle is fast becoming a strategic gateway for international fintech companies looking to expand into the UK market and Paynovate’s investment underscores our city’s potential as a prime business location.
“We are excited to support the company in the next phase of its expansion and hope that it will give confidence to others who are thinking about Newcastle as their UK base.”
Cllr Alex Hay, Cabinet Member for a Thriving City, Newcastle City Council, said:
“We are delighted to see Paynovate choose Newcastle as the place to launch their UK operations.
“The growth of the fintech sector not only provides exciting employment opportunities for our residents but also enhances the city’s reputation as a key player in the global financial services landscape.”
Source: Invest Newcastle