New group established to bring greater scale, expertise and investment to each business
Each business continues serving customers and partners through the brands and people they know, now with broader international reach and capabilities
Generating a combined revenue of more than £100m, the Group is backed by Codex Capital and existing investors of each business

AnyCard, Lifestyle, and Savvy today announced their agreement to come together as Norell. The three complementary businesses span multi-brand and global gift card processing, payment, and reward and recognition programmes, with operations in the UK, Europe and North America. The Group is backed by Codex Capital and existing investors from the founding businesses.

The strategic agreement enables each business to offer broader expertise, capability, and reach to customers, alongside established technology, processing and distribution partners. AnyCard, Lifestyle and Savvy will operate under the parent Norell group, maintaining each brand’s established identity, specialist capabilities, market focus, and talent.

As one of the UK’s early pioneers of multi-brand gift cards, Lifestyle enables consumers and corporate customers to give and redeem gifts, rewards and experiences at more than 750 brand partners. AnyCard and Savvy contribute complementary capabilities spanning advanced processing, international retail distribution, and product innovation. Together, they strengthen the range of solutions available to customers whilst continuing to deepen and build out their partnerships across international markets.

Collectively, the businesses serve more than 2,000 corporate clients, in partnership with over 1,300 brands. To date, the businesses have processed over US$8bn in card value, across more than 45 countries, and supported through 33 currencies. The agreement comes in the context of a global gift card market, including corporate rewards and incentives, valued at $1.5trn in 2026 and projected to reach $2.2trn by 2034¹.

New investment from Codex Capital will accelerate each business’s strategy and ability to serve partners and customers through enhanced technology, content, and service capabilities, across international markets.

Alex Barseghian, Group CEO, Norell

“Customers want simpler access to a wide range of products and services, at home and abroad, in a market that remains fragmented, across branded payments and rewards and recognition. This agreement puts the scale, investment and reach of the group behind each of our brands, to serve customers and partners even better. This structure helps brands, retailers and businesses connect with consumers and employees through multi brand cards and stored value solutions. With Codex Capital's backing, alongside existing investors, founders and talented colleagues, Norell will help each business accelerate progress and bring more products, rewards and technology to our customers and partners.”

Jamie Lawson-Brown, Codex Capital

"Norell exemplifies the hallmarks we look for in our investments: a proven business model, an experienced and specialist management team, and exposure to large, growing markets in the UK and internationally. The stored value payments market is evolving rapidly, with gift cards increasingly used beyond traditional gifting as businesses seek to reward and build loyalty among employees and customers. This creates multiple avenues for growing the market, which Norell has the breadth of capabilities to serve. We are delighted to have worked directly with its owners and management team to secure the transaction and we look forward to continuing to build our partnership.”

NOTES TO EDITORS

About:

Norell

Norell is a global branded payments, gift card and rewards group, bringing together the complementary capabilities of AnyCard, Lifestyle and Savvy. The individual companies help brands, retailers and businesses connect with consumers and employees through multi-brand gift cards, gift card processing, stored-value solutions, and employee reward and recognition programmes.

Norell works with more than 2,000 corporate clients and 1,300 brands, with products available online and across more than 13,000 merchant locations. Headquartered in the United Kingdom, Norell operates across North America and Europe, supporting clients in more than 45 countries and 33 currencies.

AnyCard

AnyCard is a Canadian gift card technology company connecting merchants, organizations and consumers across North America. Through its Gift Card Solutions Platform and Multi-Brand Gift Cards, AnyCard helps businesses launch and manage gift card programs and deliver flexible gifting, incentive, reward, engagement and retention initiatives. The company works with more than 550 brands across North America, distributes its products through more than 8,000 retail and B2B locations across Canada, and powers more than 1,000 gift card programs. AnyCard ranked No. 6 on The Globe and Mail’s Canada’s Top Growing Companies list for 2026.

Lifestyle

Since 2018, the Lifestyle Gift Card has grown to become a leading multi-retailer gift card across the UK and Ireland, serving the B2B, D2C and B2C markets. With millions of redemptions every year and hundreds of thousands of customers, Lifestyle has helped reshape the stored value and employee rewards markets, delivering greater choice, flexibility and value for businesses, consumers and employees alike. Offering access to a huge range of leading brands and experiences, Lifestyle combines choice with simplicity, creating a compelling gifting and rewards solution for almost every occasion. With a strong proposition across multiple channels, Lifestyle is well positioned to continue its rapid growth and further strengthen its position in the UK and Irish gifting and rewards markets.

Savvy

Savvy is a highly focused processor that powers brilliant gift card programmes for its brands through the advanced capabilities of Elevate, its globally available Azure cloud-based processing platform. Working in collaboration with partners and as an internationally recognised processor in the gift card industry, Savvy is perfectly positioned to support new international partners and brands with advanced processing and analytics expertise.

Codex Capital

Codex Capital is a London-based independent sponsor, founded in 2014. Its focus is on investing in proven, profitable, and growing UK-headquartered mid-market businesses.

¹ “Gift Card Market”, Fortune Business Insights, 14 September 2026 [https://www.fortunebusinessinsights.com/gift-card-market-111784]

View source version on businesswire.com: https://www.businesswire.com/news/home/20261014149013/en/

Media enquiries:
The One Nine Three Group. Charlie Harrison, Eleanor Purdon, George Peele. norellgroup@the193.com

Commercial enquiries:
hello@norellglobal.com

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