Japanese giant SoftBank has invested $40 million in Dublin-based Nomupay, enhancing the firm’s aim to provide international acquirers, merchants, Payment Service Providers, and Independent Sales Organizations with comprehensive access to the fragmented Asian market.
The latest funding round values Nomupay at $290 million, up from a previous valuation of $200 million achieved during a $37 million raise in January. This investment marks the initiation of a partnership between Nomupay and SB Payment Service Corp (SBPS) to facilitate entry into the Japanese market.
Nomupay’s Unified Payments (UP) platform is designed to support online, point-of-sale (POS), and payout capabilities across multiple Asian, European, and Middle Eastern markets through a single API.
The company was established by VC Finch Capital via its acquisitions of Wirecard assets in 2021, including local licenses in Turkey and the Asia Pacific, as well as businesses like Cardinity from Lithuania to cover Europe.
Peter Burridge, former head of operations for payouts at PayPal and now CEO of Nomupay, stated: “Since our inception in 2021, we have been actively engaged in the region. The SBPS investment allows us to enhance inter-regional commerce by incorporating additional countries and payment methods, ensuring seamless access between Japan, Asia, and the rest of the world.
“Both companies share a common understanding of the complexities surrounding cross-border payments. This isn’t just about acquiring; it’s a comprehensive payments platform that encompasses payment acceptance, treasury management, and payouts. Merchant growth in the region will be bolstered by this holistic end-to-end solution.”