- NomuPay’s Acquisition:
- Irish unified payments platform NomuPay has acquired UK-based payment services provider Total Processing.
- NomuPay now “holds, directly or indirectly, 75% or more of the shares” of Total Processing, according to a Companies House filing.
- Total Processing Overview:
- Total Processing, founded in 2015 and based in Manchester, offers payment solutions globally, including online payments, virtual terminals, and card readers.
- It serves e-commerce and in-store merchants in Europe, North America, and the MENA region.
- Financial Details:
- The financial details of the acquisition deal are currently unknown.
- NomuPay’s Background:
- NomuPay, formed in 2021 after Finch Capital acquired assets from the former German payment processor Wirecard, provides cross-border payment acceptance and payout disbursements via API integration.
- Global Expansion:
- NomuPay, backed by Finch Capital and Outpost Ventures, expanded its operations by acquiring Wirecard’s local licenses in Turkey, Hong Kong, Malaysia, Thailand, and the Philippines.
- It further expanded by acquiring Lithuanian fintech Click2Sell and its European license in late 2022.
- Funding Round:
- In May of the current year, NomuPay raised $53.6 million in a funding round led by Finch Capital and Outpost Ventures.
- Strategic Implications:
- The acquisition of Total Processing positions NomuPay to access new audiences in North America and the MENA region.
- It also provides access to Total Processing’s technology and talent, aligning with NomuPay’s goal to scale its business, as announced in May.
