Dublin-based Nomupay, an end-to-end payment platform for expansion into regions of high cross-border and e-commerce growth, announced that it has completed a third investment round of $37M (approximately €36M).
The final $12M (approximately €11.6M) tranche of the September fundraiser was led by Amsterdam-based Endeit Capital, with Uneti Ventures (backed by early Adyen employees) participating.
Existing investors continued their support, contributing $25M (approximately €24.2M) over the last 18 months. The announcement comes as the company exceeds 100 per cent growth per annum over two years and the company is expected to reach profitability in 2025.
The latest round follows series A rounds of $53.6M from Finch Capital and other investors in
2023, bringing the total to just under $90M (approximately €87.4M) to date.
Fund utilisation
The Irish company plans to use the funds to expand its integrated payments platform in Asia.
It includes 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.
This platform will support European, US, and ROW players with a single API integration for e-commerce and POS acquiring, as well as global payouts.
The company has made key new hires, including seasoned sales leaders Judith Loh (ex-Worldpay) and Alson Lau (ex-BBSML) to focus on and further drive organic growth.
According to the company, 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.
Peter Burridge, CEO of Nomupay, says, “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,” adds Burridge.
NomuPay: Payment solutions to help its clients accelerate growth
Founded in 2021, NomuPay offers unified payment solutions through its subsidiaries, enabling its clients to accelerate expansion in growing markets in Asia, Turkey, and the Middle East.
The platform offers payout disbursements and omnichannel payment acceptance through a single API interface. It also provides robust data management and reporting capabilities.
The fintech company claims that it offers end-to-end payment visibility and traceability to payment providers, big businesses, and complex markets, and is designed to enable payouts depending on an organisation’s specific payment workflows.
The platform offers various payment acceptance options, including card payments, buy-now-pay-later options, instalment payment plans, and local alternative payment methods in Thailand, Malaysia, Hong Kong, the Philippines, and Turkey.
The company is led by payment industry veterans from firms such as Ingenico, PayPal, Worldline, and others. It is supported by a group of senior Board advisors with deep expertise and networks in payments in Asia, Europe, and the US, such as Shane Happach, Eric Hollanders, and Juan Benitez.
The company 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 investor
Endeit Capital is a European growth capital firm fuelling the internationalisation and innovation of European tech scale-ups.
With AI as the overall denominator, Endeit focuses on five segments: the future of Work, Fintech, Sales Enablement, Supply Chain and procurement, and Climate Tech.
With their current €300M+ fund, they invest in multiple European countries, in addition to their three home markets: Germany, the Netherlands, and Sweden.
Jonne de Leeuw, Partner of Endeit Capital, says, “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,” adds Leeuw.
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