▼ Summary
– NomuPay, an Irish fintech startup, raised $40 million in Series C funding at a $290 million valuation to expand its cross-border payment solutions.
– The startup simplifies cross-border payments for merchants in Asia, Europe, MENA, and the U.S., addressing fragmented payment systems.
– NomuPay plans to use the new funding for regional expansion, acquisitions, and scaling operations, including adding Japanese payment methods.
– The company serves over 2,000 merchants globally and expects 70% year-over-year growth, with plans to exceed $45 million in revenue by 2025.
– NomuPay enables merchants to manage multi-currency transactions and local payment options while reducing back-office complexity and FX costs.
Cross-border payments are becoming increasingly vital for global commerce, and fintech innovators like NomuPay are leading the charge. The Ireland-based startup recently secured $40 million in Series C funding from SB Payment Service, a SoftBank Corp subsidiary, valuing the company at $290 million. This latest investment follows a $37 million Series B round earlier this year, bringing total funding to approximately $120 million.
NomuPay specializes in simplifying cross-border transactions for merchants operating in fragmented markets, particularly in Asia, Europe, the Middle East, and the U.S. By integrating alternative payment methods (APMs) and streamlining back-end processes, the platform helps businesses expand internationally without the usual regulatory and operational headaches.
The fresh capital will fuel expansion into key Asian markets, including Japan, where NomuPay plans to introduce local payment options for global merchants. Peter Burddige, CEO of NomuPay, emphasized the company’s strategy to leverage SoftBank’s resources, adding SBPS cards and multi-currency settlement capabilities to its platform.
Scaling operations remains a top priority, with plans to double down on sales and explore strategic acquisitions. The startup is also preparing to launch services in Singapore, Indonesia, and Vietnam, further solidifying its footprint in Southeast Asia and Oceania.
Since its founding four years ago, NomuPay has grown rapidly, now serving over 2,000 merchants worldwide. Its acquisition of Total Processing, a UK-based payment solutions provider, has strengthened its offerings in recurring payments, risk management, and compliance.
With 500 new merchants onboarded this year alone, NomuPay anticipates 70% year-over-year growth. Revenue is projected to hit $45 million in gross annualized run-rate and $20 million in net revenue by 2025. While profitability is expected within 12 months, the company is prioritizing aggressive expansion to capture more of the booming cross-border payments market.
By reducing FX costs and enhancing transparency through local payment networks, NomuPay is positioning itself as a critical enabler for businesses navigating the complexities of global commerce. As demand for seamless international transactions grows, the startup’s innovative approach could redefine how merchants and consumers connect across borders.
(Source: TechCrunch)
