Nova Poshta LLC plans to increase its investments in the Moldovan market to $880 thousand in 2024, which is 4.5 times more than the volume of such investments in 2023, the company’s press service said on Wednesday.
“The bulk of the investments will be directed to expanding our network, repairing branches, automating workplaces, updating IT infrastructure, and increasing the fleet of vehicles for delivery by couriers,” said Sergey Shapran, CEO of Nova Poshta in Moldova.
In addition, in 2025, Nova Poshta plans to create a new sorting hub in Moldova, where business customers will be able to use fulfillment services.
According to the company, over the 10 years of its operation in this country, Nova Poshta has become one of the three fastest deliveries in Moldova, and has built a network of 21 branches, 261 post offices and three sorting terminals.
In addition, it was the first company in the Moldovan market to launch parcel delivery points on the basis of existing businesses: shops, gas stations, etc. Currently, there are 53 delivery points in Moldova, and the company plans to further expand its network.
According to the report, in the first half of 2024, Nova Poshta in Moldova delivered 1.1 million parcels, almost as many as in the whole of 2023 (1.2 million), and paid 12.5 million lei in taxes to the local state budget of the country.
“In Moldova, Nova Poshta delivers parcels from marketplaces in China, America, Ukraine, as well as to/from Romania.
The company is also working on integrating Moldova into the Nova Post Europe system, which will allow customers to send and receive parcels from 13 European countries.
In the first half of 2024, the company delivered 771 thousand international parcels, compared to 590 thousand for the whole of 2023.
As reported, in the first half of 2024, Nova Poshta increased its consolidated net income by 22.6% to UAH 24.45 billion, while the company’s consolidated net profit decreased by 36.9% to UAH 1.48 billion.
NovaPay, a financial company from Nova Posta Group, has entered the Moldovan market and became the first financial service in that country to introduce the cash-on-delivery feature, the company’s press office said Friday.
“NovaPay is the first domestic fintech company to begin its global expansion, and Moldova was the first international development market for us,” said company CEO Andrei Krivoshapko.
According to him, NovaPay will provide Moldovan enterprises and private clients with financial services, which have not been available on the market before, and will also accompany Novaya Posta’s logistics operations.
Krivoshapko added that after receiving the extended license, the next stage will be opening accounts and issuing cards to them, credit products, including “Parcel to Credit”.
It is worth mentioning that citizens of Moldova may receive the cash on delivery service without commission at 19 branches of Nova Poshta in Chisinau, Comrat, Balti, Cahul, Edinet and in other localities – via courier.
The company said that among next plans of NovaPay in Moldova are domestic and international transfers, acquiring and instant domestic and cross-border transfers for business and factoring.
A day earlier, in an interview with Forbes Ukraine, NovaPay announced plans to open offices in every country where Nova Post’s parent company will be located. Priority markets are Poland, Germany, Czech Republic, Slovakia and Bulgaria, where there are more Ukrainians. It was pointed out that for the expansion so far EUR2 million of own investments are foreseen.
“We want to financially “connect” 10 million internally displaced Ukrainians with their families. By launching the application, we plan to attract 30-40% of “Nova Posta” customers to use it,” Krivoshapko told “Forbes Ukraine”.
According to him, in July NovaPay plans to present a beta version of the mobile application, which is currently 70% ready, and its full-scale launch is scheduled for September.
As it was reported, the National Bank of Ukraine has recognized NovaPay as an important payment system with a market share of 45% at the end of 2022.
Earlier NovaPay applied for an Electronic Money institution license in Europe.
NovaPay is a part of Nova Posta Group and provides it with online and offline payment services.
According to the website of the National Bank, in 2022, NovaPay increased revenues by 32.5% to 5 billion 188.92 million UAH and net profit by 46.1% to 2 billion 360.62 million UAH.
