31 May 2023
NomuPay raises $53.6m to provide global enterprises with an ‘all access pass’ for payments
NomuPay, a modern end-to-end payment platform purpose built for expansion into regions of high cross-border and ecommerce growth, has raised $53.6m. The round was co-led by Finch Capital and Outpost Ventures, an investment platform of Neuberger Berman, with participation from individuals.
Peter Burridge, CEO of NomuPay, says “Every growing international enterprise knows 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. As a result, expansion slows down. Companies have to maintain countless technical integrations and vendor relationships, while reconciling global payments. At NomuPay, we remove the burden of ‘multiples’, by unifying fragmented payment networks. In the face of continued technological, market, method and data fragmentation, we provide companies with an ‘all access pass’ to global payments’, enabling enterprise to continue to expand globally, and to future-proof payment strategies.”
NomuPay’s Unified Payments (uP) Platform provides omnichannel payments acceptance and payout disbursements through a single API integration. Engineered to simplify fragmented payment infrastructure throughout Southeast Asia, Europe and Turkey; the uP Platform provides scalable payment solutions and robust data management and reporting capabilities. An ‘all-access pass’ to payments, NomuPay’s uP Platform is gateway agnostic and capable of augmenting existing payment infrastructure with ease.
Radboud Vlaar, Managing Partner of Finch Capital, says “Under the Leadership of Peter Burridge, NomuPay has made a series of licence acquisitions, and top level hires that has helped to take the company to the next level. On top of this, the company has built a Unified Payments Platform that unlocks local payment acceptance and payout disbursements in geographies that have long lacked a unified system, through a simple and single integration. We are very excited to see how NomuPay address the burning need of clients in these core markets.”
David Dubick, Partner of Outpost Ventures says, “We’re thrilled to partner with the deeply experienced team at NomuPay and be a partner with them in this next phase of growth. Throughout our conversations with NomuPay we’ve been continually impressed by the technological implementation of the uP Platform, its ability to solve a wide range of issues faced by enterprises and marketplaces in global payments, as well as their approach to distribution and the initial partners who are using the platform at scale.”
NomuPay has successfully started to onboard new clients as of Q4 2022, and are now actively scaling the business in their core markets. The team continues to add new markets to the uP Platform, as well as continuing to invest in product development.
The modern end-to-end payment solution, NomuPay's Unified Payment (uP) Platform makes it easy to accept payments and send payouts in Europe and across the expansion markets of Southeast Asia and Turkey through a single integration. Purpose-built to support your international growth efforts, the uP Platform's secure API unlocks a wide range of payment acceptance methods, including card, buy-now-pay-later solutions, instalment payment plans, and local alternative payment methods in Thailand, Malaysia, Hong Kong, the Philippines and Turkey. Architected to enable payouts based on your organisation's unique payment workflows, NomuPay's uP Platform provides payment providers, large enterprises, and sophisticated marketplaces with end-to-end payment visibility and traceability.
Founded in 2021, NomuPay is Institutional funded and has a presence in Dublin, Hong Kong, Kuala Lumpur, Manila, Istanbul and Bangkok. The executive team is comprised of industry veterans with previous experience at Hyperwallet (a PayPal Service), US Bank, Barclays, Ingenico, Evo Payments, and American Express.