Nomupay expands in Japan with $40 million investment from SoftBank
Japanese giant SoftBank has invested $40m in Dublin's Nomupay, bolstering the firm's ambition to provide an all access pass to the highly fragmented Asian market to international acquirers, merchants, Payment Service Providers and Independent Sales Organisations.
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The funding round values Nomupay at $290 million, a significant uplift on the $200 million valuation achieved on a $37 million raise in January.
The new investment signals the beginning of a partnership between Nomupay and SB Payment Service Corp (SBPS) to provide access to the Japanese market.
Nomupay's Unified Payments (UP) platform has been built to enable online, POS and payout capability in multiple Asian, European and Middle Eastern markets simultaneously through a single API.
The business was formed by VC Finch Capital out of its 2021 acquisitions of Wirecard assets, specifically local licenses across Turkey and Asia Pacific, as well as separate businesses like Cardinity out of Lithuania to cover European territory.
Peter Burridge, former head of operations payouts at PayPal and CEO of Nomupay, says: 'Since our inception in 2021 we have been robustly active in the region, the SBPS investment now enables us to double down and support inter regional commerce by adding additional countries and payment methods to the platform in order to support bi-directional access between Japan, Asia and the rest of the world.
'Both companies are very aligned on the root cause of complexity in cross border payments. This is not just about acquiring, this is a full-service payments platform that supports payment acceptance, treasury and payouts. Merchant growth in the region will be supported by this end-to-end holistic solution."
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