NomuPay Raises US$53.6M to Enhance Payment Acceptance in Southeast Asiaby Johanan Devanesan June 1, 2023
NomuPay, a unified payments platform, has successfully raised US$53.6 million to enhance its local payment acceptance and payout disbursement services for businesses operating in Southeast Asia, Turkey, and Europe.
The funding round was jointly led by Finch Capital and Outpost Ventures, an investment platform of Neuberger Berman, along with contributions from individual investors. NomuPay was established by Finch Capital, which acquired various assets of Wirecard in 2021, including local licenses in Turkey and the Asia Pacific region, as well as separate businesses like Cardinity, which covers the European market.
NomuPay’s Unified Payments (uP) Platform offers payment acceptance and payout disbursements across diverse markets through a single API integration. By utilizing the uP Platform’s secure API, businesses gain access to a wide range of payment acceptance methods, including cards, buy-now-pay-later schemes, installment plans, and local alternative payment options in countries such as Thailand, Malaysia, Hong Kong, the Philippines, and Turkey.
Headquartered in Ireland, NomuPay began onboarding new clients in the fourth quarter of 2022. The recent funding round represents the total capital raised by NomuPay since its inception, including an additional injection of US$15 million. This fresh funding will be utilised to scale the business operations and expand into new geographical regions.
Peter Burridge, former head of operations payouts at PayPal and current CEO of NomuPay, emphasised the significance of the platform’s capabilities in an era of technological advancements and market fragmentation. He stated,
“In the face of continued technological, market, method and data fragmentation, we provide companies with an ‘all access pass’ to global payments, enabling enterprises to continue to expand globally, and to future-proof payment strategies.”