NomuPay, a Dublin-based fintech company, has raised $53.6 million in a funding round to expand its payment services in Southeast Asia, Turkey, and Europe. The company aims to provide ambitious global enterprises with an all-access pass for payments in these regions. Investors include Finch Capital, and includes participation from Outpost Ventures, a Neuberger Berman fund, with participation from individuals.
NomuPay offers a range of payment services, including card acquisition, alternative payment methods, and payment gateway solutions. The company’s platform is designed to help businesses expand their reach and increase revenue by providing a seamless payment experience for customers. NomuPay’s services are available in over 100 currencies and support multiple languages, making it an ideal solution for businesses looking to expand globally.
The company plans to use the funding to expand its operations in Southeast Asia, Turkey, and Europe, where it sees significant growth potential. NomuPay aims to provide businesses with a single platform for all their payment needs, including cross-border payments, local payment methods, and fraud prevention. The company also plans to invest in technology and talent to enhance its platform and provide better services to its customers. The expansion into Southeast Asia, Turkey, and Europe comes at a time when the region is experiencing rapid growth in e-commerce and digital payments. According to a report by Google, Temasek, and Bain & Company, Southeast Asia’s internet economy is expected to reach $300 billion by 2025, driven by the growth of e-commerce, online media, and ride-hailing services.
Peter Burridge, CEO of NomuPay, said “Every growing international enterprise knows the problem of ‘multiples’, when it comes to payments. There are multiple countries, multiple payment types, different payment use cases in each nation, a variety of channels, and an endless list of changing regulations. As a result, expansion slows down. Companies have to maintain countless technical integrations and vendor relationships, while reconciling global payments. At NomuPay, we remove the burden of ‘multiples’, by unifying fragmented payment networks. In the face of continued technological, market, method and data fragmentation, we provide companies with an ‘all access pass’ to global payments’, enabling enterprise to continue to expand globally, and to future-proof payment strategies.”
The company expanded out of the ashes of Wirecard, a heavily funded but ultimately fraudulent payments company in Germany.