In response to the expanding needs of global trade for improved cross-border payment solutions, Ireland-based fintech startup NomuPay has secured an additional $40 million investment in a Series C financing round led by SB Payment Service (SBPS), a subsidiary of Japan’s telecom giant SoftBank Corp. This latest capital infusion values the company at $290 million and arrives just five months after its previous funding round of $37 million, during which NomuPay had been valued at approximately $200 million.
NomuPay specializes in streamlining cross-border payments, addressing the fragmented and complex payments infrastructure particularly prevalent in Asian markets. Its solutions simplify payment processing between merchants and their customers not just in Asia, but also across Europe, the Middle East and North Africa, and the United States. This most recent fundraising brings NomuPay’s total venture capital raised to date to about $120 million.
According to CEO Peter Burridge, the fresh capital will fuel further geographic expansion, particularly aimed at bolstering the company’s presence in the Asian region. Immediate plans include integrating alternative payment methods (APMs) from Japan onto the NomuPay platform. This integration will enable international merchants to seamlessly connect with Japanese consumers without the necessity of establishing a physical presence within Japan itself.
In addition to Japanese payment methods, NomuPay aims to include SBPS payment cards, multi-currency settlement services, and IC++ billing structures, enhancing flexibility for international commerce. Burridge noted further that NomuPay’s offerings handle merchant transactions without adding complexity to internal accounting processes, providing solutions such as multi-currency virtual accounts and treasury services to effectively manage foreign exchange considerations.
NomuPay also plans to continue expanding its presence in Southeast Asian markets, with imminent announcements expected regarding new capabilities and coverage in Singapore, Vietnam, and Indonesia. These moves will broaden its influence across Oceania and enhance its appeal to multinationals looking to navigate the intricacies of cross-border payments in the region.
Founded four years ago, NomuPay currently serves over 2,000 merchants globally. The firm strengthened its technological and operational capabilities significantly through the acquisition of Manchester-based Totla Processing in late 2023—a company known for its expertise in developing advanced payment processing solutions, such as recurring billing, risk management, and data security compliance.
Since its previous fundraising round earlier this year, NomuPay has successfully onboarded over 500 new merchants and increased the size of its team to more than 250 employees. Burridge projects substantial growth ahead, anticipating an increase in revenues by as much as 70% year-on-year. The startup generates income through transaction-based fees from its merchant partners, covering both payment acceptance and payout functionalities on behalf of platforms that cater to buyers and sellers.
By the close of 2025, NomuPay expects to achieve more than $45 million in gross annualized revenue, translating into roughly $20 million in net revenue. Despite a clear path to profitability identified by company leadership, Burridge says NomuPay will prioritize growth in the short term, ultimately projecting long-term profitability within twelve months with the help of this latest round of funding.
