Irish fintech Nomupay gets €35m investment from SoftBank

Reuters

Irish fintech Nomupay has said it received a $40 million (€35 million) investment from an unit of SoftBank at a valuation of $290 million to help it expand in Asian countries such as Japan.

Nomupay started operations in 2021 after buying licences from payments company Wirecard, which collapsed a year earlier in Germany's biggest post-war fraud scandal.

Nomupay has since raised $120 million, with the last round of $37 million in January valuing it 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 chief executive Peter Burridge told Reuters.

Nomupay is a payment processor focusing on local and cross-border payments and operates in an industry dominated by the likes of Stripe and Adyen.

"We aim to be profitable by the end of the year," Burridge said.