NomuPay raises USD 53.6 million to expand its operations

Ireland-based NomuPay has raised a total of USD 53.6 million to expand its operations and build more integrations into its API.

While NomuPay has officially classified the USD 53.6 million funding round as a Series A, the company’s CEO revealed during an interview with TechCrunch that the figure represents more of an aggregate of what NomuPay has managed to raise to date. 

NomuPay was founded in 2021 and launched its first commercial product, namely a unified payments platform for making and taking payments at the end of 2022. According to the company, it has already established a presence in 20 countries. NomuPay was created by VC Finch Capital out of its 2021 acquisitions of Wirecard assets across Turkey and Asia Pacific, as well as separate businesses such as Lithuania-based Cardinity. 

The company’s Unified Payments (uP) Platform offers omnichannel payments acceptance and payout disbursements through a single API integration. The solution was created to simplify fragmented payment infrastructures throughout Southeast Asia, Europe and Turkey. In essence, the platform acts as an ‘all-access pass’ to payments. It is gateway agnostic and capable of augmenting existing payment infrastructures. 

Company officials cited by Techcrunch.com talked about NomuPay’s license acquisitions and top-level hires, as well as the role of the Unified Payments Platform in addressing the current needs of clients in core markets such as Southeast Asia, Europe and Turkey. 

NomuPay’s target clients are merchants and other online businesses that need to make and take across international markets. Businesses can leverage the company’s API to tackle any difficulties that arise from having to negotiate and integrate different, fragmented payment methods and processes. NomuPay’s unified payments platform competes with companies such as Adyen, PPRO, Payoneer, Stripe, and PayPal.

Other developments from NomuPay 

In March 2022, NomuPay partnered with UK-based independent provider of payment solutions Cardstream to allow the latter to accept payments on behalf of its merchant and business customers in over 145 currencies and scale into new territories. 

Cardstream is a PCI DSS Level 1 compliant provider of payment solutions and counts for a network of over 400 acquirers, alternative payment methods, shopping cart platforms, and fraud solution providers. It also supports all global currencies, major card schemes, and hundreds of APMs internationally.