Irish fintech firm Nomupay announced on Tuesday that it has secured a $40 million investment from a SoftBank Corp subsidiary, valuing the company at $290 million. The funding will support Nomupay’s expansion into Asian markets, including Japan.
Founded in 2021, Nomupay began operations after acquiring licenses from the defunct payments company Wirecard, which was at the center of Germany’s largest post-war corporate fraud scandal.
With this latest investment, Nomupay has now raised a total of $120 million. Its previous funding round in January brought in $37 million and valued the company at $200 million.
“We will integrate the Japanese payment methods that are provided by SoftBank, which means the rest of the world can now access Japan, and then we will jointly expand into other markets,” Nomupay CEO Peter Burridge said.
Nomupay is a payment processing company specializing in both local and cross-border transactions. It operates within a highly competitive industry alongside major players such as Stripe and Adyen.
“We aim to be profitable by the end of the year,” Burridge said.
Nomupay’s latest $40 million investment from SoftBank marks a significant milestone in its growth journey, boosting its valuation to $290 million. As it expands into key Asian markets like Japan, the fintech firm aims to strengthen its position in the competitive payments space, dominated by giants such as Stripe and Adyen.
