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Irish fintech startup Nomupay is making waves in the global payments industry with its innovative cross-border solutions. Backed by a fresh $40 million Series C funding round led by SoftBank’s SB Payment Service (SBPS), Nomupay is now valued at $290 million, a strong indicator of its growing influence in the fintech space.
The company is simplifying global commerce by helping merchants navigate fragmented payment infrastructures, particularly in high-growth regions such as Asia, Europe, and the Middle East. By offering localized payment options, multi-currency accounts, and streamlined treasury services, Nomupay empowers merchants to expand without being burdened by regulatory and operational complexities.
With over 2,000 merchants on its platform and plans to expand into markets such as Singapore, Indonesia, and Vietnam, Nomupay is positioning itself as a key player in the future of international transactions. This article explores its journey, growth strategy, revenue model, and what lies ahead.
SoftBank Invests in Cross-Border Payments Leader
Irish fintech startup Nomupay has successfully secured a $40 million Series C investment from SB Payment Service (SBPS), a subsidiary of Japanese telecommunications conglomerate SoftBank Corp. This latest funding round values Nomupay at $290 million and marks a significant milestone in its efforts to simplify global commerce.
The Growing Need for Cross-Border Payment Solutions
As international trade becomes more digital and interconnected, the demand for seamless cross-border transactions has surged. Businesses today operate across continents, requiring reliable methods to process payments in multiple currencies and through various payment systems. However, regional regulatory differences and fragmented payment infrastructures continue to pose challenges.
The company is addressing these complexities by offering merchants a unified platform to handle diverse payment methods, with a focus on markets in Asia, Europe, the Middle East, and the United States.
Funding Momentum Accelerates
Rapid Growth Through Back-to-Back Rounds
The Series C round comes just five months after Nomupay closed a $37 million Series B at a $200 million valuation in January. With the latest capital infusion, the fintech has raised a total of approximately $120 million since its inception just four years ago.
Key Numbers So Far:
- Series B (Jan 2025): $37 million at a $200M valuation
- Series C (June 2025): $40 million at a $290M valuation
- Total Raised: $120 million
This trajectory reflects investor confidence in Nomupay’s scalable technology, global vision, and commercial potential in a booming fintech space.
Strategic Use of Capital
The company will use the fresh funding to scale its operations and expand its footprint in high-growth regions, such as Asia and Oceania. Part of the funds will also go toward acquisitions that can enhance its product offerings and customer base.
Platform Expansion and Technological Enhancements
Adding Japan to the Payment Mix
One of the most significant updates to Nomupay’s platform is the integration of Japanese Alternative Payment Methods (APMs). This change enables international merchants to accept payments from Japanese consumers without requiring a physical or legal presence in Japan.
CEO Peter Burridge explained that this feature removes a significant barrier for global companies looking to tap into Japan’s digital economy.
Upcoming Platform Features:
- Japan APMs: Access to Japanese consumers without local incorporation
- SBPS Card Support: Integration of SoftBank’s proprietary payment cards
- Multi-Currency Settlement: Faster currency conversion for global businesses
- IC++ Billing: More detailed transaction-level billing for transparency
These capabilities are designed to simplify operations for merchants while enhancing the user experience for customers worldwide.
Solving Back-Office Complexity
Local Payments Without the Hassle
The company is streamlining what has traditionally been a complicated and expensive task for merchants: managing diverse local payment options and currency risks. Its solution decouples payouts from acquiring services, enabling greater flexibility.
Merchants using Nomupay can open multi-currency virtual accounts, access real-time foreign exchange (FX) rates, and manage treasury functions, all through a single dashboard.
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Key Merchant Benefits:
- Localized Payment Access: Accept local methods without integration chaos
- Multi-Currency Accounts: Avoid hidden FX costs
- Independent Payouts: Reduce reliance on third-party acquirers
- Transparent Treasury Services: Gain control over foreign exchange exposure
These features help reduce friction, cut costs, and improve speed, a significant advantage for growing businesses.
Minimizing Regulatory Headaches
Businesses expanding into Asia often face an uphill battle with local licensing requirements, compliance regulations, and fragmented payment ecosystems. Nomupay’s platform addresses this issue directly by providing pre-integrated solutions that comply with regional standards.
Southeast Asia and Oceania in Focus
Expansion into Singapore, Indonesia, and Vietnam
Burridge revealed that Nomupay is set to announce significant coverage expansions in Singapore, Indonesia, and Vietnam. These markets represent a gateway into Oceania and Southeast Asia, two regions with rapidly growing e-commerce economies.
This move is part of the company’s broader plan to expand its presence across the Asia-Pacific region and establish a global payment infrastructure that supports both local and international merchants.
Strategic Vision for the Region
With more consumers in Asia transacting digitally than ever before, there’s a pressing need for robust and scalable payment systems. Nomupay’s proactive regional strategy positions it to meet this demand and become a trusted partner for businesses in the area.
Merchant Base and Acquisitions Fueling Growth
Over 2,000 Merchants and Counting
Since its founding, Nomupay has attracted over 2,000 merchants across Europe, the Middle East, and Asia. That number continues to grow rapidly, especially following its most recent funding round.
Burridge noted that the company onboarded more than 500 new merchants in just the past few months. This growth has also contributed to a projected 70% year-over-year revenue increase.
Notable Milestones:
- 2023: Acquired UK-based Total Processing
- 2024: Surpassed 2,000 global merchants
- 2025: Expanded team to 250+ employees
Total Processing Acquisition
In November 2023, Nomupay acquired Manchester-based Total Processing, a company focused on advanced payment solutions, including:
- Recurring payments
- Risk management tools
- Data compliance protocols
- Custom payment integrations
The acquisition enhanced Nomupay’s backend infrastructure, allowing the company to integrate more advanced fraud and compliance systems.
Business Model and Revenue Strategy
Transaction-Based Fees
The company generates revenue by charging fees on merchant transactions. This includes both payment acceptance and payout services. Its dual-sided model supports businesses on both ends of the payment process from buyer acquisition to supplier payments.
Revenue Targets for 2025
Burridge projects that Nomupay will exceed $45 million in gross annualized run-rate revenue by the end of 2025. Net revenue is expected to top $20 million, and profitability is projected within the next 12 months.
This revenue performance is a strong indicator of sustainable, profitable growth, a rare feat in the high-burn fintech sector.
Future Outlook and Strategic Focus
Profitability on the Horizon
Despite its focus on rapid expansion, Nomupay is eyeing profitability in the near term. Burridge confirmed that with the recent capital injection, the company is deliberately prioritizing growth but remains confident in achieving profitability within a year.
Plans for Future Innovation
Looking ahead, Nomupay is exploring opportunities in:
- Cross-border e-commerce integrations
- AI-driven fraud detection
- Blockchain-based settlement layers
- Expansion into Latin America and Africa
These initiatives will help Nomupay stay ahead in a competitive market while offering merchants even more sophisticated tools.
FAQs
What does Nomupay do?
The company offers cross-border payment solutions that enable merchants to process transactions in multiple currencies and local payment methods, facilitating seamless transactions across borders.
Who led Nomupay’s Series C funding round?
SoftBank’s SB Payment Service (SBPS), a subsidiary of SoftBank Corp, led the $40 million Series C investment.
Which regions are Nomupay focusing on for expansion?
The company is expanding its services in Asia, particularly in Singapore, Indonesia, and Vietnam, and already operates in Europe and the Middle East.
How does Nomupay generate revenue?
The company earns by charging transaction-based fees for payment processing, including acceptance and payout services.
What’s Nomupay’s projected revenue by 2025?
The company expects to reach $45 million in gross annualized run-rate revenue and $20 million in net revenue by the end of 2025.
Conclusion
Nomupay’s latest funding round marks a new chapter in its rapid rise as a leader in cross-border payments. With strong backing from SoftBank and a robust growth strategy, the fintech is solving real pain points for global merchants. By simplifying complex payment processes and expanding into dynamic markets, Nomupay is well-positioned for long-term success. As digital commerce continues to accelerate globally, Nomupay’s solutions offer both scale and simplicity, making it a company to watch in the evolving fintech landscape.
