Nomupay Raises $37M to Expand Unified Payments Platform in Asia

Nomupay, a Dublin-based payment infrastructure provider, has successfully secured €35.9 million ($37 million) through an investment round aimed at expanding its unified payments platform across Asian markets. This strategic move is driven by the necessity to address market fragmentation in the region, where merchants often struggle with varying regulations and diverse payment preferences. Nomupay’s technology facilitates the processing of online payments, point-of-sale transactions, and payouts through a single API integration, eliminating the need for companies to manage multiple regional relationships.

Funding and Investment Support

The recent funding of €35.9 million ($37 million) comprises an €11.6 million ($11.9 million) investment led by Endeit Capital, a European growth equity firm, and includes participation from Uneti Ventures, a firm backed by former Adyen employees. Additionally, existing investors contributed €24.2 million ($24.9 million) over the past 18 months, highlighting sustained support for Nomupay’s growth plans.

Innovative Payment Solutions

Nomupay’s unified platform operates on a gateway-agnostic model, allowing merchants to connect with multiple payment providers without establishing direct relationships. This significantly reduces the technical integration burden for companies entering Asian markets. Chief Executive Officer Peter Burridge emphasized that many organizations are currently beholden to dominant global gateway acquirers, which often provide limited regional access and payment method options.

Growth and Acquisitions

Founded in 2021, Nomupay has reported a 100% annual growth rate over two years and anticipates reaching profitability by 2025. The company’s expansion strategy includes both organic growth and strategic acquisitions. Notably, in 2023, Nomupay acquired Total Processing, a Manchester-based payment services provider, enhancing its presence in the UK market.

Industry Expertise and Regional Expansion

To support its regional growth, Nomupay has onboarded payment industry veterans, including Judith Loh, formerly of Worldpay, and Alson Lau, previously with BBSML. Jonne de Leeuw, Partner at Endeit Capital, praised Nomupay for addressing a significant deficiency in the payments landscape by bringing innovation and enhanced access to the EMEA and APAC markets.

Future Plans and Market Impact

Nomupay’s regional expansion plans include establishing local teams and partnership networks in additional markets such as Indonesia, Japan, and Vietnam. The company’s aim is to alleviate the technical challenges faced by Payment Service Providers (PSPs) and Independent Sales Organizations (ISOs) when navigating the complex regulatory environments of various Asian countries.

Strategic Importance

Nomupay, a payment infrastructure provider based in Dublin, has successfully raised €35.9 million ($37 million) through an investment round to enhance its unified payments platform in Asian markets. This strategic effort aims to tackle market fragmentation in the region, where merchants frequently face challenges due to different regulations and a variety of payment preferences. Nomupay’s technology streamlines the processing of online payments, point-of-sale transactions, and payouts by offering a single API integration. This eliminates the need for businesses to manage multiple regional relationships, providing a more efficient and cohesive solution. The funding will enable Nomupay to expand its reach and improve its services, making it easier for merchants to navigate the complexities of the Asian payment landscape. By addressing these challenges, Nomupay is positioned to facilitate smoother and more streamlined financial transactions across Asia, benefiting both merchants and consumers alike.

Explore more

Business Central Mobile Apps Transform Operations On-the-Go

In an era where business agility defines success, the ability to manage operations from any location has become a critical advantage for companies striving to stay ahead of the curve, and Microsoft Dynamics 365 Business Central mobile apps are at the forefront of this shift. These apps redefine how organizations handle essential tasks like finance, sales, and inventory management by

Transparency Key to Solving D365 Pricing Challenges

Understanding the Dynamics 365 Landscape Imagine a business world where operational efficiency hinges on a single, powerful tool, yet many enterprises struggle to harness its full potential due to unforeseen hurdles. Microsoft Dynamics 365 (D365), a leading enterprise resource planning (ERP) and customer relationship management (CRM) solution, stands as a cornerstone for medium to large organizations aiming to integrate and

Generative AI Transforms Finance with Automation and Strategy

This how-to guide aims to equip finance professionals, particularly chief financial officers (CFOs) and their teams, with actionable insights on leveraging generative AI to revolutionize their operations. By following the steps outlined, readers will learn how to automate routine tasks, enhance strategic decision-making, and position their organizations for competitive advantage in a rapidly evolving industry. The purpose of this guide

How Is Tech Revolutionizing Traditional Payroll Systems?

In an era where adaptability defines business success, the payroll landscape is experiencing a profound transformation driven by technological innovation, reshaping how companies manage compensation. For decades, businesses relied on rigid monthly or weekly pay cycles that often failed to align with the diverse needs of employees or the dynamic nature of modern enterprises. Today, however, a wave of cutting-edge

Why Is Employee Career Development a Business Imperative?

Setting the Stage for a Critical Business Priority Imagine a workplace where top talent consistently leaves for better opportunities, costing millions in turnover while productivity stagnates due to outdated skills. This scenario is not a distant possibility but a reality for many organizations that overlook employee career development. In an era of rapid technological change and fierce competition for skilled