“Global and regional enterprises scaling in the Asian market need a more sophisticated and less prescriptive approach. At Nomupay, it is our goal to become the go-to payments platform to unlock Asia for companies globally and vice versa.”
Endeit Capital leads $37m investment round in Nomupay
Endeit Capital leads $37m investment round in Nomupay to transform unified payments access in Asia.
- Endeit Capital leads $37m investment to accelerate Nomupay’s expansion in Asia, offering a single API integration for e-commerce and POS acquiring, as well as global payouts.
- The investment supports Nomupay’s mission to create the “Star Alliance” of payments in Southeast Asia, providing an “all-access pass” for businesses navigating the region’s fragmented payments landscape.
- Total funding now approaches $90m, with Nomupay on track for profitability by 2025, supported by year-on-year growth exceeding 100%.
Nomupay has completed a third investment round of $37m, bolstering the firm’s ambition to open up the notoriously complex Asian market to international acquirers, merchants, Payment Service Providers (PSPs) and Independent Sales Organisations (ISOs). The final $12m tranche of the September fundraise was led by Endeit Capital, with Uneti Ventures (backed by early Adyen employees) participating. Existing investors continued their support, contributing $25m over the last 18 months.
Jonne de Leeuw, Partner at Endeit Capital, stated: “Nomupay has recognised and addressed a major deficiency in the payments landscape and is bringing both innovation and access to the EMEA and APAC markets, while unlocking further potential through local licenses and vertical focus.”
“We are very pleased to participate in the development of Nomupay, and support the ambitious team as they continue to grow and scale. The business has significant global potential, and we look forward to playing our part in its success.”
A Unified Approach to Payments in Asia
Nomupay’s Unified Payments (UP) platform is designed to simplify access to Asia’s notoriously fragmented payments landscape. With diverse local regulations and varying payment preferences, businesses often need multiple relationships to operate effectively. Nomupay’s single API integration streamlines these complexities, offering global merchants, acquirers, PSPs, and ISOs seamless access to e-commerce, POS, and payout capabilities.
Peter Burridge, CEO of Nomupay, says, “At present, so many organisations are beholden to the dominant global gateway acquirers, known as ‘Monos’. In many cases, these platforms only provide access to certain countries, only facilitate certain payment methods, and necessitate that customers use their gateway.”
“Global and regional enterprises scaling in the Asian market need a more sophisticated and less prescriptive approach. At Nomupay, it is our goal to become the go-to payments platform to unlock Asia for companies globally and vice versa.”
The gateway-agnostic omnichannel acceptance and disbursements offering will also address the need for easy scalability due to its single back-office platform. Nomupay leverages AI to provide robust data management and reporting capabilities as well as enhanced business strategy decisions through provision of greater insights.
Strong Momentum with Key Partnerships and Strategic Growth
The latest round follows successful series A rounds of $53.6m from Finch Capital and other investors in 2023, bringing the total to just under $90m to date. Steady investment has seen Nomupay exceed 100% growth per annum over two years and the company is expected to reach profitability in 2025.
Jeroen Netten, Uneti Ventures, says, “This is the first time I have come across this unique agnostic approach to enabling growth expansion for other acquirers.’’
Experienced new hires with local market expertise have been enlisted to focus on and further drive organic growth. These include seasoned sales leaders Judith Loh (ex-Worldpay) and Alson Lau (ex-BBSML). This will boost already strong organic growth to date, and ongoing, successful M&A activity, which includes the acquisition of Manchester-based Total Processing in 2023.
Expansion plans include additional markets, local hires and partnerships in Singapore, Indonesia, Japan and Vietnam, adding to existing local presence in the region in Kuala Lumpur, Singapore, Philippines, Hong Kong and Thailand.
About Nomupay
Nomupay is a global fintech company offering a unified payments platform designed to simplify payments through a single API integration. Its presence spans key markets in Southeast Asia, the Middle East, and Europe, with an experienced leadership team hailing from industry giants such as Ingenico, PayPal, and Worldline.
Contact Endeit Capital via: info@endeit.com
