Nomupay Secures €35.9m for Asian Payment Infrastructure Push

Nomupay, the Dublin-headquartered payment infrastructure provider, has completed a €35.9m (US$37m) investment round to expand its unified payments platform across Asian markets. 

The company's technology enables merchants to process payments through a single integration point rather than establishing multiple regional relationships.

The funding comprises an €11.6m (US$11.9m) investment led by Endeit Capital, a European growth equity firm, with participation from Uneti Ventures, an investment firm backed by former employees of payment processor Adyen. Existing investors contributed €24.2m (US$24.9m) over the preceding 18 months.

Market fragmentation drives expansion

The company's platform enables merchants to process online payments, point-of-sale transactions, and payouts across multiple Asian markets through a single API integration. 

This addresses a structural challenge in the region, where varying regulations and payment preferences often require companies to maintain separate relationships with multiple payment providers and gateways.

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.”

The platform operates on a gateway-agnostic model, meaning merchants can connect to multiple payment providers through Nomupay's infrastructure rather than establishing direct relationships. 

This approach aims to reduce the technical integration burden for companies expanding into Asian markets.

Growth and acquisition strategy

The company, founded in 2021, reports 100% annual growth over two years and projects profitability in 2025. This latest round follows a €52m (US$53.5m) Series A led by Finch Capital, a European venture capital firm, in 2023, bringing total funding to €87.4m (US$90m).

Nomupay's expansion strategy combines organic growth with strategic acquisitions. The company acquired Total Processing, a Manchester-based payment services provider specialising in merchant acquiring services, in 2023. The deal expanded Nomupay's presence in the UK market and added merchant relationships.

The firm has recruited payment industry veterans to support its regional growth, including Judith Loh, formerly of global payment processor Worldpay, and Alson Lau, previously at payment technology provider BBSML.

Regional infrastructure development

Nomupay maintains offices across Dublin, UK, Madrid, Vilnius, Hong Kong, Kuala Lumpur, Manila, Bangkok, Singapore, Istanbul, Dubai and Auckland. Its expansion plans target additional markets including Indonesia, Japan and Vietnam, where it intends to establish local teams and partnership networks.

The company's unified payments platform aims to address the technical challenges faced by Payment Service Providers (PSPs) and Independent Sales Organisations (ISOs) entering Asian markets. 

These organisations typically require multiple technical integrations and regulatory permissions to operate across the region.

Jonne de Leeuw, Partner at 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.”

The investment signals continued interest in payment infrastructure providers focusing on emerging markets. Jeroen Netten from Uneti Ventures concludes: "This is the first time I have come across this unique agnostic approach to enabling growth expansion for other acquirers."

Explore the latest edition of FinTech Magazine and be part of the conversation at our global conference series, FinTech LIVE. 

Discover all our upcoming events and secure your tickets today.

FinTech Magazine is a BizClik brand