Having announced the raise of $53.6 million in a Series A funding round in late May of this year, Dublin-headquartered payment platform NomuPay aims to accelerate growth through its acquisition of payment processing and gateway solutions provider Total Processing.
Terms of the deal remain undisclosed, however, NomuPay has confirmed that the deal is comprised of a mixture of stock and cash.
According to NomuPay, which already focuses on reducing, if not eliminating the headaches of doing business across multiple borders, currencies, regulations, etc, particularly in Asia, the acquisition is set to further bolster expansion plans throughout Southeast Asia, Europe, and Türkiye as well as enter the Middle East.
On the acquisition of Total Processing, NomuPay CEO Peter Burridge shared:
“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.
“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 merchant’s businesses”
Lead image via NomuPay.