Dublin-based Nomupay has successfully completed a third investment round, raising $37 million at a valuation of $200 million. This funding enhances the company’s goal of providing a comprehensive access point to the fragmented Asian market for international acquirers, merchants, Payment Service Providers, and Independent Sales Organisations.
The final tranche of $12 million from the September round was led by Endeit Capital, with participation from Uneti Ventures, backed by early Adyen employees. Existing investors contributed $25 million over the last 18 months.
Nomupay’s Unified Payments (UP) platform enables online, POS, and payout capabilities across multiple Asian, European, and Middle Eastern markets through a single API. The company was created by VC Finch Capital through its 2021 acquisitions of Wirecard assets, including local licenses in Turkey and the Asia Pacific, as well as businesses like Cardinity in Lithuania to cover European markets.
CEO Peter Burridge, former head of operations payouts at PayPal, remarked, “Many organizations rely on dominant global gateway acquirers, known as ‘Monos,’ which often limit access to specific countries and payment methods. To scale effectively in the Asian market, businesses require a more adaptable and less restrictive approach. Nomupay aims to be the preferred payments platform for unlocking Asia for global companies and vice versa.”
This round follows earlier successful series A rounds, which raised $53.6 million from Finch Capital and other investors in 2023, bringing Nomupay’s total funding to nearly $90 million to date. The company has experienced over 100% annual growth for two consecutive years and anticipates reaching profitability by 2025.
The new funds will be utilized to enhance M&A activities following the acquisition of Manchester-based Total Processing in 2023, as well as to support expansion efforts into additional markets, recruit local talent, and establish partnerships in Singapore, Indonesia, Japan, and Vietnam, complementing its existing presence in Kuala Lumpur, Singapore, the Philippines, Hong Kong, and Thailand.