NomuPay’s acquisition comes six months after the company raised $53.6m to help it simplify payments across multiple markets
Dublin fintech NomuPay has acquired payment services provider Total Processing to expand its services across multiple continents.
The acquisition was made through a combination of stock and cash. The terms of the deal were not disclosed, but multiple reports suggest the deal is worth roughly $35m.
NomuPay – which solidified its business by acquiring Wirecard assets – said the acquisition will help it to enter the Middle East market and accelerate its expansion efforts across Southeast Asia, Europe and Turkey.
Total Processing has developed a platform that helps clients navigate the complexities of payment processing. The company said it offers more than 198 different payment methods to clients worldwide.
Founded in 2015, the UK-based company has been growing rapidly. Earlier this year, Total Processing revealed plans to open a Dublin office to hire 25 new staff and expand into the EU.
NomuPay plans to scale up Total Processing’s services into various key markets. The UK fintech said the deal will give it additional resources and support to enhance its product offerings and expand into new markets.
“In an industry that’s plagued by over-automation, chatbots and so-called ‘simple’ solutions, Total Processing stands out as a company that truly cares about the merchant’s experience,” said NomuPay CEO Peter Burridge. “What impressed me the most was the team’s mission and drive to become the ‘most customer focused payments business in the world’; it’s apparent at every stage of the value chain.
“From streamlining the onboarding process, to improving authorisation rates and simplifying chargeback management, Total Processing’s consultative approach is maniacally focused on improving each and every one of their merchants’ businesses.”
Similarly to Total Processing, NomuPay focuses on simplifying payment networks and provides companies with an “all-access pass” to global payment options.
The acquisition comes six months after NomuPay raised $53.6m in a funding round co-led by Finch Capital and Outpost Ventures.
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