Irish fintech startup NomuPay has successfully raised $40 million in a Series C funding round, bringing its total funding to approximately $120 million. The round was led by SB Payment Service (SBPS), a subsidiary of SoftBank Corp, valuing NomuPay at $290 million. This significant investment follows a $37 million Series B round just five months prior.
NomuPay simplifies cross-border payments for merchants, particularly focusing on the complex Asian market and expanding into Europe, the Middle East, North Africa, and the U.S. The company offers a platform that allows merchants to easily process payments in various currencies, manage foreign exchange, and provide local payment options to customers without complex back-office adjustments.
The $40 million will fuel NomuPay's expansion into key regions, including Asia, through strategic acquisitions and scaling of sales and operations. This includes adding Japanese alternative payment methods (APMs) to its platform and integrating SBPS cards, enhancing its multi-currency settlement capabilities.
NomuPay currently serves over 2,000 merchants globally and projects exceeding $45 million in gross annualized run-rate revenues and $20 million in net revenue by the end of 2025. The company aims to achieve profitability within 12 months, despite prioritizing growth with this new funding.
