NomuPay, an Ireland-based fintech company, has now secured a fresh investment of $40 million from a SoftBank unit – SB Payment Service (SBPS). This Series C funding round values the startup at $290 million, and the proceeds of the same are intended to accelerate the company’s expansion, particularly within Asian markets such as Japan.
Four-year old NomuPay began its operations after acquiring licenses from Wirecard, and has since accumulated approximately $120 million in total funding. This latest investment follows a $37 million Series B funding round in January, which valued the company at $200 million. The company aims to integrate Japanese payment methods provided by SoftBank, enabling global merchants to access the Japanese consumer market. Following this integration, NomuPay plans to jointly expand into other markets with SoftBank, and currently operates as a payment processor, focusing on facilitating both local and cross-border transactions. The company’s platform assists merchants in managing international payments across the diverse payment systems prevalent in Asia, as well as serving merchants and their customers in Europe, the Middle East, North Africa (MENA), and the US.
The influx of new capital will support NomuPay’s goals and initiatives, including expanding its presence in key regions like Asia and pursuing acquisitions. Additionally, the company plans to scale its sales and operational capabilities in both existing and new locations. Peter Burridge, CEO of NomuPay, stated that the company will immediately add Japanese Alternative Payment Methods (APMs) to its platform, allowing international merchants to engage with Japanese consumers without requiring a local entity in Japan. NomuPay also intends to incorporate SB Payment Service (SBPS) cards and introduce multi-currency settlement and IC++ billing.
Burridge stated that NomuPay’s platform enables merchants to offer a broader range of local payment options to their customers, simplifying back-office operations. The service also provides merchants with multi-currency virtual accounts and treasury services for managing foreign exchange exposures and costs. NomuPay utilizes local payment networks to minimize transaction costs while maximizing transparency and speed for global payouts, allowing merchants to manage their currency exposures and the payment experience for their suppliers and payees separately from their acquiring service.
Currently, the firm provides services to more than 2,000 merchants spanning Europe, the Middle East, and Asia. It has some acquisitions under its belt as well – back in November 2023, NomuPay expanded its capabilities by acquiring Total Processing, a firm based in Manchester focused on developing payment solutions. These solutions include managing recurring payments, assessing risk, ensuring data security compliance, and integrating various payment methods. CEO Peter Burridge indicated that following its most recent funding round earlier this year, NomuPay brought on over 500 new merchants, anticipates annual growth exceeding 70%, and has grown its workforce to over 250 individuals. The fintech platform generates its income by applying fees based on the volume of transactions processed for merchants. This includes charges for payment acceptance and for disbursements on platforms that connect both buyers and sellers. By the close of 2025, NomuPay projects its gross annualized run-rate revenues to surpass $45 million, with net revenue expected to reach $20 million.
