Nomupay, a Dublin-based fintech startup, has announced today the completion of a third investment round of €35.9 million, bolstering the firm’s ambition to open up the “notoriously complex” Asian market to international acquirers, merchants, Payment Service Providers (PSPs) and Independent Sales Organisations (ISOs).
The final €11.6 million tranche of the September fundraise was led by Endeit Capital, with Uneti Ventures (backed by early Adyen employees) participating. Existing investors continued their support, contributing €24.2 million over the last 18 months.
The latest round follows successful series A rounds of €52 million from Finch Capital and other investors in 2023, bringing the total to just under €87.4 million to date. According to Nomupay, they have exceeded 100% growth per annum over two years with the company expected to reach profitability in 2025.
Peter Burridge, CEO of Nomupay, said, “At present, so many organisations are beholden to the dominant global gateway acquirers, known as ‘Monos’. In many cases, these platforms only provide access to certain countries, only facilitate certain payment methods, and necessitate that customers use their gateway. […] Global and regional enterprises scaling in the Asian market need a more sophisticated and less prescriptive approach. At Nomupay, it is our goal to become the go-to payments platform to unlock Asia for companies globally and vice versa.”
Nomupay is a global fintech organisation founded in 2021 that offers a unified payment platform that supports end-to-end payments through a single system integration. Nomupay aims to provide secure and flexible payment solutions tailored to the needs of high-growth regions in Southeast Asia, Middle East, and Europe.
Nomupay is institutionally funded and has a global presence in Dublin, UK, Madrid, Vilnius, Hong Kong, Kuala Lumpur, Manila, Bangkok, Singapore, Istanbul, Dubai and Auckland.
The payments business in Asia is highly fragmented according to Nomupay. Differing local regulations and myriad payment method preferences mean growing companies require multiple relationships to cover the region, leading to significant back-office complexity and reduced transparency of real costs.
Answering demand from Europe and the US, Nomupay’s Unified Payments (UP) platform will enable online, POS and payout capability in multiple Asian, European and Middle Eastern markets simultaneously through a single API.
The gateway-agnostic omnichannel acceptance and disbursements offering will also address the need for easy scalability due to its single back-office platform.
Jonne de Leeuw, Partner of Endeit Capital, said, “Nomupay has recognised and addressed a major deficiency in the payments landscape and is bringing both innovation and access to the EMEA and APAC markets, while unlocking further potential through local licenses and vertical focus. […] We are very pleased to participate in the development of Nomupay, and support the ambitious team as they continue to grow and scale. The business has significant global potential, and we look forward to playing our part in its success.”
Jeroen Netten, Uneti Ventures, said, “This is the first time I have come across this unique agnostic approach to enabling growth expansion for other acquirers.’’
Experienced new hires with local market expertise have been enlisted to focus on and further drive organic growth. These include Judith Loh (ex-Worldpay) and Alson Lau (ex-BBSML).
This will boost already strong organic growth to date, and ongoing, successful M&A activity, which includes the acquisition of Manchester-based Total Processing in 2023.
Expansion plans include additional markets, local hires and partnerships in Singapore, Indonesia, Japan and Vietnam, adding to existing local presence in the region in Kuala Lumpur, Singapore, Philippines, Hong Kong and Thailand.
Read the orginal article: https://www.eu-startups.com/2025/01/nomupay-raises-e35-9-million-to-expand-unified-payments-access-in-asia-market/
