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Led by CEO Peter Burridge, NomuPay has been playing its cards wisely with a series of licence acquisitions and top-level hires in the lead-up to the latest funding.
NomuPay, a fintech start-up headquartered in Dublin that wants to simplify payments across multiple markets, has raised $53.6m in a funding round co-led by Finch Capital and Outpost Ventures.
Founded in 2021, NomuPay has developed a unified payments platform that helps enterprises accept payments and make pay-out disbursements through a single, integrated channel. Other than Europe, the company has a particular focus on the Turkish and Southeast Asian markets.
CEO Peter Burridge said NomuPay aims to help international enterprises solve the problem of “multiples” when it comes to payments.
“There are multiple countries, multiple payment types, different payment use cases in each nation, a variety of channels and an endless list of changing regulations,” he said.
“As a result, expansion slows down. Companies have to maintain countless technical integrations and vendor relationships, while reconciling global payments.”
NomuPay attempts to unify these fragmented payment networks and provide companies with an “all-access pass” to global payments so that they can continue to expand globally without worrying about the logistics of cross-border transactions.
The company, which solidified its business by making acquisitions from Wirecard assets, said it has successfully started onboarding new clients since late last year and is now pushing expansion across its core markets across Europe, the Middle East and Southeast Asia.
Radboud Vlaar, managing partner at Finch Capital, said that much of NomuPay’s recent success can be attributed to a series of licence acquisitions and top-level hires under the leadership of Burridge.
“On top of this, the company has built a unified payments platform that unlocks local payment acceptance and pay-out disbursements in geographies that have long lacked a unified system, through a simple and single integration,” he said.
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