NomuPay, which serves over 2,000 merchants globally, has recently acquired Totla Processing to bolster its payment processing solutions. The startup has onboarded over 500 new merchants since its last funding round and expects a 70% year-over-year growth. It generates revenue through transaction-based fees and aims to exceed $45 million in gross annualized run-rate revenues by 2025. With a focus on growth, NomuPay anticipates reaching profitability within 12 months. The company is expanding its presence in Southeast Asia, with new coverage expected in Singapore, Indonesia, and Vietnam.
Key takeaways:
- NomuPay, an Irish-based fintech startup, raised $40 million in a Series C round led by SB Payment Service, valuing the company at $290 million.
- The startup plans to use the new funding to expand its reach in Asia and beyond, focusing on acquisitions and scaling its sales and operations.
- NomuPay aims to simplify cross-border payments by offering local payment options, multi-currency virtual accounts, and treasury services to manage foreign exchange.
- The company expects to exceed $45 million in gross annualized run-rate revenues and $20 million in net revenue by the end of 2025, with a focus on growth and profitability within 12 months.