Novum Bank

What Novum Bank does

Novum Bank Limited is a Malta-domiciled private credit institution, incorporated and licensed by the Malta Financial Services Authority in June 2009, that operates two product lines: a prepaid card issuance business and a short-term micro-lending business under the Cashper brand. The card business spans consumer prepaid products (Money2Go MasterCard, Joker MasterCard with physical and virtual variants, Joker Gift Card, Co.Net MasterCard), corporate reward cards (BenefitCard Premium), and branded co-branded gift cards (E.ON, Kino, Scenic), all issued on MasterCard rails following the bank's 2012 principal membership. The micro-lending business offers loans of €50-€1,000 with 15-60 day maturities through country-specific websites in Spain, Germany, Austria, France, and Denmark. Revenue is generated through transaction fees, card loading/service charges, and micro-loan interest and fees.

The company is majority-owned by Dutch private equity firm Ramphastos Investments since 2012, and operates through three legal entities: Novum Bank Limited in Malta (headquarters and licensed entity), Novum Cards Services GmbH & Co. KG in Germany (card operations), and Novum Software Development SRL in Romania (in-house engineering). The proprietary technology stack centers on a Cards Engine Platform that handles customer registration, EMV/virtual card issuing, multiple loading channels, SMS gateways, and fraud monitoring, plus a Business Rules Engine for automated loan underwriting and real-time payout decisions. MasterCard prepaid cards are accepted at over 33 million merchants worldwide, and distribution combines physical retail (through Blackhawk Network in REWE, Edeka, and Penny supermarkets in Germany and Austria), online direct sales (Netherlands), and B2B partner channels.

The bank is regulated by the MFSA for banking activities and by the FIAU for AML/CFT compliance, holds FATCA registration as a Foreign Financial Institution, is a participant in the Maltese Depositor Compensation Scheme, and operates within GDPR constraints. Headcount stands at approximately 127-150 employees across the three jurisdictions. Its primary customer segments are unbanked/underbanked European consumers, individuals needing fast short-term cash, and corporate entities seeking prepaid card infrastructure for employee rewards and customer loyalty programs.

Name

Novum Bank

Legal name

Novum Bank Limited

Website

https://novumbankgroup.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Novum Bank Limited is a Malta-licensed private credit institution that issues prepaid MasterCard cards and offers Cashper micro-loans (€50-€1,000) across five European countries, serving unbanked consumers, individuals needing short-term credit, and corporate clients running employee reward and gift card programs.

Ownership category

akta.pro rank

Headquarters

HQ city

Valletta

HQ country

Malta

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Micro-loan interest and fees: Cashper generates revenue from interest and fees on short-term micro-loans ranging from €50-€1000 with 15-60 day maturity periods across European markets.
2. Prepaid card issuance and management fees: Revenue from issuing and managing prepaid cards including Money2Go, Joker, and corporate gift cards. Fees include loading, transaction, and monthly service charges.
3. Corporate card programs: B2B revenue from corporate prepaid card programs like BenefitCard Premium for employee rewards and gift cards branded for corporate partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Novum Bank Limited is a Malta-licensed credit institution that issues prepaid MasterCard products (consumer, corporate, and gift cards) and provides short-term micro-loans under the Cashper brand. The card division delivers prepaid, virtual, co-branded, and gift cards accepted at over 33 million MasterCard merchants worldwide, while the lending division offers €50–€1,000 micro-loans with 15–60 day maturities to consumers across five European countries.

Product overview

Novum Bank Limited operates a dual-product financial services portfolio consisting of prepaid card solutions and micro-loan services. The card division includes consumer prepaid products (Money2Go MasterCard®, Joker MasterCard® with physical and virtual variants, Joker Gift Card, Co.Net MasterCard®), corporate reward cards (BenefitCard Premium), and branded gift cards for partners (E.ON, Kino, Scenic). The lending division operates under the Cashper brand, offering short-term micro-loans ranging from €50 to €1,000 across five European countries. Both divisions share the same regulatory framework and infrastructure for payments and risk management.

Differentiator

Problem solved

Functional benefit

Brands

• Money2Go MasterCard: Prepaid card product launched in Germany and the Netherlands, affiliated with MasterCard network
• Joker MasterCard
• Co.Net MasterCard
• BenefitCard Premium
• E.ON MasterCard Gift Card
• Kino Gift Card
• Scenic Gift Card

Products and services

• Money2Go MasterCard A reloadable prepaid MasterCard that allows users to load funds and spend within their budget at over 33 million merchants worldwide. Available with contactless technology, chip and PIN security, and accessible to everyone regardless of credit rating or bank account ownership. Sold at authorized points of sale in Germany and online in the Netherlands.
• Joker MasterCard (physical) A physical prepaid MasterCard available in Germany through points of sale, enabling users to shop safely online and in stores. Can be topped up via voucher, SOFORT, or bank transfer, with chip and PIN protection.
• Joker Online MasterCard (virtual) A virtual prepaid MasterCard for online purchases, provided with 16-digit card number, validity date, CVV code, and cardholder name for use anywhere MasterCard is accepted.
• Joker MasterCard Gift Card A non-reloadable prepaid gift card with a standard value of €25, designed for holidays, birthdays, graduations, and other celebrations.
• Co.Net MasterCard A reloadable, Chip and PIN open loop MasterCard co-branded with CO.NET Verbrauchergenossenschaft e.G., loadable via Maltese IBAN or directly by the co-branding partner.
• BenefitCard Premium
• E.ON MasterCard Gift Card An open loop MasterCard gift card branded under E.ON, issued in €10 or €40 denominations, one-time loadable with Magstripe, without ATM access.
• Kino Card An e-money closed loop gift card accepted at over 180 cinema centres in Germany and Austria, with fixed €25 value valid for 36 months, sold through Blackhawk Network distribution.
• Scenic Gift Card An open loop MasterCard gift card for a river cruise company, non-reloadable with fixed €100 or €200 denominations, accepted wherever MasterCard is accepted except ATMs.
• Cashper micro-loans

Quantifiable outcome

• Cashper is one of the biggest players in the European micro-loan market
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Blackhawk Network GmbHcoreChannel Partner/ Reseller/ DistributorBlackhawk Network GmbH distributes the Kino Gift Card and E.ON MasterCard Gift Card through its retail network including REWE, Edeka, and Penny in Germany and Austria. Novum Bank is the card issuer and provides technical infrastructure for card sales and redemption.
• Blackhawk Engagement SolutionscoreChannel Partner/ Reseller/ DistributorBlackhawk Engagement Solutions is the strategic partner for the BenefitCard Premium corporate card program. Novum Bank issues the cards while Blackhawk provides corporate distribution and program management.
• Stockton Resources LtdminorChannel Partner/ Reseller/ DistributorStockton Resources Ltd collaborates with Novum Bank for the Scenic MasterCard gift card program for river cruise customers.
• MasterCardcoreTechnology or IntegrationNovum Bank became a principal member with MasterCard in 2012, enabling issuance of MasterCard and Maestro prepaid card products across Europe. Cards are accepted at over 33 million merchants worldwide.
• Blackhawk (Germany)coreChannel Partner/ Reseller/ DistributorNovum Bank manages programs for strategic partners including Blackhawk in Germany, providing card issuance and program management for prepaid card products.
• CO.NET Verbrauchergenossenschaft e.G.minorChannel Partner/ Reseller/ DistributorCo-branded CO.NET MasterCard prepaid card partnership with German consumer cooperative. Novum Bank issues the reloadable chip and PIN card.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Ferratum Group: Finland-origin European micro-lender and digital banking operator offering short-term consumer loans and mobile banking across multiple EU countries, directly comparable to Novum's Cashper micro-loan business.
• Soldo: UK/Italy-based corporate prepaid card and expense management platform serving SMBs across Europe, directly comparable to Novum's BenefitCard Premium corporate card programme.
• Zimpler: Swedish fintech offering account-to-account payments and small consumer credit products under FSA supervision, with comparable prepaid/payments and short-term lending overlap to Novum.
• myPOS: European fintech issuing prepaid business and consumer Mastercard accounts with multi-country distribution, comparable to Novum's Money2Go and Joker prepaid products.
• Contis: UK-based prepaid card issuer and BaaS provider offering white-label card programmes for partners — directly comparable to Novum's corporate/white-label card issuance via the Cards Engine platform.
• Wonga (legacy / SSL Finance): Historic UK micro-lender offering short-term consumer loans — historically a comparable peer to Novum's Cashper brand in the European short-term lending category, now operating under different ownership.

Broad incumbents

• Paysafe Group: Prepaid card issuer and payments processor operating across Europe and North America, with MasterCard and Visa issuing capability — comparable to Novum's prepaid card division though at materially larger scale.
• bunq: EU digital bank with Dutch banking license offering consumer accounts and cards across multiple European markets; competes in the broader prepaid/card space but at a different price point than Novum's unbanked focus.

Emerging players

• Pleo: European fintech issuing corporate prepaid cards with expense management software; competes for the same corporate prepaid customers as Novum's BenefitCard Premium but with stronger software/SaaS overlay.

Others

• Blackhawk Network: Global prepaid gift card distributor and partner of Novum for German retail distribution through REWE, Edeka, and Penny; not a competitor but the most important channel partner for Novum's gift card business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/novumbankltd

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novum Bank