NomuPay Secures \(37M Series B at \)200M Valuation to Revolutionize Asian Payments
From Wirecard’s Ashes to Fintech Innovation
While Wirecard’s 2020 collapse remains a cautionary tale in fintech history, its legacy has spawned a promising successor. Dublin-based NomuPay—formed in 2023 from acquired Wirecard payment licenses—has emerged as a key player in solving complex cross-border payment challenges across Asia and the Middle East.
Funding Milestones and Growth Trajectory
- $37M Series B raised from Endeit Capital, Uneti Ventures, and existing investors
- $200M valuation reflects 100% annual revenue growth over two years
- $90M total funding to date, including 2023’s $53.6M round
- Projected profitability in 2025 with $20M ARR
Solving Payments Where Giants Fear to Tread
NomuPay CEO Peter Burridge positions the company as the anti-monolith:
“We enable businesses to compete without forcing them into rigid payment ecosystems. While ‘monos’ require full suite adoption, we provide tailored solutions for underserved markets.”
Key Differentiators:
- Hyper-localized payment rails supporting 20+ payment methods per market
- Multi-currency capabilities with regional compliance expertise
- Lightweight integration versus enterprise payment suites
Market Opportunity: The Fragmented Payment Landscape
Asia’s payment complexity creates massive white space:
- Malaysia alone requires support for 20+ digital wallets
- Visa operates through 5,000+ independent sales organizations (ISOs)
- Cross-border transactions compound these challenges exponentially
Strategic Expansion Plans
Current Footprint:
- Asia: Malaysia, Singapore, Philippines, Hong Kong, Thailand
- Global: UK, Ireland, Lithuania, Turkey, Dubai, New Zealand
Growth Priorities:
- License acquisition in Singapore via fintech acquisition
- Market expansion into Indonesia, Japan, and Vietnam
- Merchant growth (currently 1,611, +20% YoY)
Enterprise Traction and Validation
NomuPay’s merchant base includes multinationals like IKEA, processing payments across:
- Malaysia
- Philippines
- Thailand
The revenue growth (100% YoY) outpaces merchant growth (20% YoY), indicating:
- Deeper merchant relationships with increased transaction volume
- Enterprise adoption from mid-market and larger businesses
Investor Confidence Signals Market Potential
Uneti Ventures—founded by Adyen alumni—initially joined as due diligence advisors before investing. Burridge considers this:
“A powerful validation of our platform from payments industry veterans.”
With e-commerce booming in emerging Asia and payment complexity increasing, NomuPay’s specialized approach positions it as a key enabler for cross-border commerce.
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