Dublin-based Nomupay secures $40M from SoftBank to unify Asia’s fragmented payment landscape through API technology, targeting $290M valuation while addressing currency and settlement challenges.
Backed by SoftBank’s $40 million injection, Nomupay announced expansion into Singapore, Indonesia, and Vietnam during Tokyo Fintech Summit. The Dublin startup’s valuation now approaches $290 million as it tackles Asia’s 40+ currency fragmentation through gateway-agnostic API infrastructure.
Solving Asia’s Payment Puzzle
During yesterday’s Tokyo Fintech Summit keynote, Nomupay CEO Maeve Donovan revealed their SoftBank-backed expansion strategy, stating: ‘Asia’s 42 currencies and disparate regulatory frameworks create a $180B friction point for cross-border commerce.’ The announcement, covered by Nikkei Asia, positions Nomupay’s unified API as the core solution – processing transactions through local gateways while maintaining a single integration point for merchants.
Technology Differentiators
Unlike traditional payment processors, Nomupay’s gateway-agnostic infrastructure dynamically routes transactions through optimal local partners. As explained in their technical whitepaper released today, proprietary AI reconciles multi-currency settlements in under 90 seconds, reducing typical 2.4% forex losses by half. ‘Real-time settlement eliminates the 72-hour holding periods plaguing Asian e-commerce,’ confirmed TechCrunch’s fintech analyst following the demo.
Strategic Alliance with SBPS
The SoftBank Payment Services (SBPS) partnership announced in Osaka establishes bi-directional payment corridors between Japan and Europe. SBPS President Kenji Tanaka noted in the joint press release: ‘This bridges the €47B Japan-EU e-commerce gap that grew 28% last year.’ Early implementations show 11-second transaction finalization versus industry-standard 3 minutes.
Market Validation and Growth
Currently serving 1,500+ merchants including European fashion platforms entering Southeast Asia, Nomupay demonstrated 100% YoY transaction growth during Q1 investor briefings. Their expansion roadmap prioritizes Singapore’s fintech hub (Q3 2025), followed by Indonesia’s high-growth market (Q4) and Vietnam (Q1 2026).
The Fragmentation Opportunity
Global players like Stripe cover only 65% of Asian payment methods according to recent McKinsey data. Nomupay’s localization strategy supports 86% of regional options – from Vietnam’s MoMo to Indonesia’s DANA. ‘You can’t conquer Asia’s $900B e-commerce market with a one-size-fits-all rail,’ Donovan emphasized during her summit address.
Historical Context: Asia’s Payment Evolution
Today’s infrastructure-first approach contrasts sharply with early European fintech entries into Asia. In 2018, Adyen’s standardized platform struggled with Indonesia’s unique BI-FAST system, requiring costly custom integrations that delayed market entry by 18 months. Similarly, Worldline’s 2020 Vietnam expansion faltered when their centralized model couldn’t accommodate sudden regulatory changes to cross-border transaction limits.
The current fragmentation solutions build upon foundational shifts in Asian digital finance. The 2016-2019 mobile wallet boom saw platforms like Alipay and GrabPay establish localized ecosystems, creating consumer expectations for seamless transactions. Meanwhile, India’s 2016 UPI launch demonstrated how API-first architecture could unify disparate banking systems – a model Nomupay adapts for cross-border complexity. These precedents highlight how payment infrastructure must evolve alongside, rather than ahead of, regional financial behaviors.
