NomuPay: A Unified Payments Business Formed from Wirecard Assets

The Calamitous Fallout of Wirecard’s Collapse

It has been two years since the collapse of Wirecard, a now-insolvent fintech out of Germany that built an elaborate house of cards on false accounting and murky business practices. Despite the tumultuous aftermath, some of the assets from this operation have found new life under different ownership. One such entity is NomuPay, a unified payments business formed by VC Finch Capital through its 2021 acquisitions of Wirecard assets, specifically local licenses across Turkey and Asia Pacific (Hong Kong, Malaysia, Philippines, and Thailand), as well as separate licensing agreements in other regions.

NomuPay’s Growth Under Peter Burridge’s Leadership

Under the leadership of Peter Burridge, NomuPay has made significant strides. The company has acquired multiple licenses, hired top talent, and built a Unified Payments Platform that enables local payment acceptance and payout disbursements in geographies lacking a unified system. This platform provides a simple and single integration for clients, addressing the burning need for a seamless payment experience.

A "Disneyland Pass" to Payment Acceptance

Burridge described NomuPay’s approach as akin to purchasing a "Disneyland pass" – it grants immediate access to the front of the queue, bypassing lengthy licensing processes. The company’s innovative technology and infrastructure are built from scratch, utilizing no assets or infrastructure inherited from Wirecard.

Partnership with Finch Capital and Outpost Ventures

NomuPay has secured funding through partnerships with esteemed venture capital firms, including Finch Capital and Outpost Ventures. Radboud Vlaar, managing partner of Finch Capital, praised NomuPay’s leadership and technological implementation, stating that the company is poised to address a pressing need in the market.

David Dubick, a partner at Outpost Ventures, added, "We’re thrilled to partner with the deeply experienced team at NomuPay and be a part of this next phase of growth. Their uP Platform has demonstrated its ability to solve complex global payment issues, and we are excited to support their distribution efforts."

A Unified Payments Platform for a New Era

NomuPay’s Unified Payments Platform is designed to bridge the gap between local payment acceptance and payout disbursements in underserved markets. By providing a single integration, clients can enjoy seamless transactions without navigating complex regulatory landscapes. This innovative approach has piqued interest among market participants, who recognize the potential for NomuPay to revolutionize the payments industry.

A New Era in Payments

As the landscape of fintech continues to evolve, companies like NomuPay are pushing the boundaries of innovation and collaboration. With a unified platform and an experienced team at the helm, NomuPay is poised to become a leader in the payments industry, providing seamless payment experiences across borders and regulatory frameworks.

In Conclusion

The collapse of Wirecard may have marked the end of one chapter, but it has also given rise to new opportunities for growth and innovation. Companies like NomuPay are taking advantage of these changes to build a more connected, more efficient global payments system. As we move forward in this exciting era of fintech, we can expect to see more companies like NomuPay at the forefront of change.

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Topics

• Commerce
• Fintech
• NomuPay
• Payments
• Wirecard