Irish fintech Nomupay gets €35m investment from SoftBank
Irish fintech Nomupay has said it received a $40 million (€35 million) investment from an unit of SoftBank at a valuation of $290 million to help it expand in Asian countries such as Japan.
Nomupay started operations in 2021 after buying licences from payments company Wirecard, which collapsed a year earlier in Germany's biggest post-war fraud scandal.
Advertisement
Nomupay has since raised $120 million, with the last round of $37 million in January valuing it at $200 million.
"We will integrate the Japanese payment methods that are provided by SoftBank, which means the rest of the world can now access Japan, and then we will jointly expand into other markets," Nomupay chief executive Peter Burridge told Reuters.
Nomupay is a payment processor focusing on local and cross-border payments and operates in an industry dominated by the likes of Stripe and Adyen.
"We aim to be profitable by the end of the year," Burridge said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Yageo to meet with Japan's Shibaura Electronics in mid-June
KAOHSIUNG, Taiwan, June 7 (Reuters) - Taiwan's Yageo ( opens new tab will meet with Japan's Shibaura Electronics (6957.T), opens new tab in the middle of this month in Tokyo to discuss cooperation, Yageo's chairman said on Saturday. Pierre Chen was speaking to reporters at an event in Kaohsiung, Taiwan. Yageo, the world's largest maker of chip resistors, announced an unsolicited tender offer for Shibaura Electronics in February, aiming to acquire full control of the Japanese manufacturer that specialises in thermistor technology.
Reuters
2 hours ago
- Reuters
China's forex reserves up $3.6 billion in May, less than expected
BEIJING, June 7 (Reuters) - China's foreign exchange reserves rose by a less-than-expected $3.6 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies. The country's foreign exchange reserves, the world's largest, rose 0.11% to $3.285 trillion last month, below the Reuters forecast of $3.292 trillion. They were $3.282 trillion in April. The increase in reserves was due to "the combined effects of factors such as exchange rate conversion and asset price changes," China's State Administration of Foreign Exchange said in a statement. The yuan weakened 1.05% against the dollar in May, while the dollar slid 0.23% against a basket of other major currencies .
Reuters
4 hours ago
- Reuters
Japan trade negotiator Akazawa says he made progress in US tariff talks
TOKYO, June 7 (Reuters) - Japan had made some progress in a fifth round of trade talks with U.S. officials aimed at ending tariffs that are hurting Japan's economy, Tokyo's chief tariff negotiator said. "Tariffs have already been imposed on autos, auto parts, steel and aluminum, and some of them have doubled to 50% along with 10% general tariff. These are causing daily losses to Japan's economy," Ryosei Akazawa, said in Washington on Friday after talks with officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. Akazawa declined to say what progress they had made. The latest round of talks may be the last in-person meeting between senior Japanese and U.S. officials before the Group of Seven (G7) leaders summit that starts on June 15, where U.S. President Donald Trump is expected to meet Japanese Prime Minister Shigeru Ishiba. Japan also faces a 24% tariff rate starting in July unless it can negotiate a deal with Washington. "We want an agreement as soon as possible. The G7 summit is on our radar, and if our leaders meet, we want to show what progress has been made," Akazawa said. "Still we must balance urgency with a need to guard our national interests," he added. Last month Japan's trade negotiator said U.S. defence equipment purchases, shipbuilding technology collaboration, a revision of automobile import standards and an increase in agricultural imports could be bargaining chips in tariff talks. In a bid to reach an agreement with the U.S., Japan is also proposing a mechanism to reduce the auto tariff rate based on how much countries contribute to the U.S. auto industry, the Asahi newspaper reported on Friday. Akazawa said Japan's position has not changed and that the tariffs are not acceptable.
