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Irish fintech Nomupay lands $40M from SoftBank payments arm at implied $290M valuation

Nomupay announced a roughly $40 million investment from SB Payment Service, a SoftBank Corp. subsidiary, implying a $290 million post-money valuation. Here’s what the strategic alliance means.
From TheFinanceBase Team6 min to read
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Nomupay announced a roughly $40 million strategic investment on June 3, 2025—but the investor was not SoftBank Group’s Vision Fund. The money came from SB Payment Service Corp. (SBPS), a wholly owned subsidiary of SoftBank Corp. SBPS said it would acquire approximately 13.8% of Dublin-based Nomupay, implying an estimated $290 million post-money equity valuation, subject to regulatory approvals.

What happened in the Nomupay deal?

SBPS described the transaction as both an investment and a business alliance. Alongside the capital, the companies planned cooperation on sales, systems integration and international merchant expansion.

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  • Announcement: June 3, 2025
  • Investor: SB Payment Service Corp.
  • Corporate parent: SoftBank Corp.
  • Investment: approximately $40 million, or about ¥5.8 billion in the Japanese announcement
  • Equity stake: approximately 13.8%
  • Status: subject to required permits and approvals

SBPS’s official announcement also said Satoru Sakai would join Nomupay’s board, subject to the transaction’s terms and approvals.

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Why the valuation is approximately $290 million

The $290 million figure is best understood as an implied post-money valuation, rather than a separately published valuation term. The basic calculation is:

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$40 million ÷ 13.8% = approximately $289.9 million

On that assumption, the implied pre-money valuation would be about $250 million. The calculation assumes that the disclosed investment amount represents the consideration for the disclosed 13.8% stake and that no unusual adjustments apply. Public announcements do not disclose the full financing documents, including the security issued, liquidation preferences, option-pool treatment or anti-dilution rights.

SoftBank Corp. is not SoftBank Group

“SoftBank” is an incomplete description of this transaction. The named investor was SB Payment Service Corp., part of SoftBank Corp. That is distinct from SoftBank Group Corp. and its Vision Funds.

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The distinction matters because this was designed as a strategic payments relationship, not simply a venture investment from a general technology fund. SBPS can potentially contribute access to Japanese merchants, payment infrastructure and local commercial relationships in addition to capital.

Why Japan matters to Nomupay

Nomupay’s proposition is to help merchants accept payments in multiple countries through a unified platform, rather than building separate integrations, payment relationships and operating structures for every market.

Japan is strategically important because it is a large, distinct payments market where local methods and domestic relationships matter. SBPS said the alliance should help its affiliated merchants expand internationally while enabling them to use local payment methods without necessarily establishing a subsidiary in every destination. Its announcement specifically highlighted digital-content businesses such as games and e-books.

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Nomupay said the relationship was intended to work in both directions:

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  • International merchants could gain better access to Japanese consumers.
  • Japanese merchants could use Nomupay’s network to reach Asian and other overseas markets.
  • Nomupay could add Japanese alternative payment methods and support SBPS cards.
  • The companies could develop broader Asian coverage over time.

Those were strategic plans and intended integrations. They should not be read as proof that every Japanese payment method or market was live when the investment was announced.

What Nomupay does

Nomupay is a B2B payments infrastructure company, not a consumer banking app. It markets a unified platform combining:

  • Online payment acceptance and local acquiring
  • Alternative payment methods
  • Recurring payments
  • Merchant accounts and payouts
  • Local settlement and multi-currency functionality
  • Reconciliation and reporting
  • Fraud and risk-management tools

Nomupay says its online-gateway offering supports more than 200 payment methods and over 133 currencies. Those are company-reported figures from its website, including its payment-gateway and global-payments pages; they are not independently audited coverage measures.

The company’s differentiation is therefore not merely card processing. Its pitch is one integration for local acquiring, payment methods, settlement and compliance across fragmented markets.

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Where Nomupay operates

Nomupay’s licensing page lists entities or licences covering Lithuania and the wider European market, Türkiye, Malaysia, the Philippines, Thailand and Australia through an entity trading as KlickEx Pacific. The exact licence type and regulator vary by jurisdiction.

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That list does not mean Nomupay directly holds an acquiring licence in every country where it can accept payments. Coverage may depend on local partners, the merchant’s legal entity, its business category and the payment method involved. Nomupay also says it works with more than 40 local partners across Southeast Asia, Europe, MENA and other regions.

How Nomupay makes money

According to TechCrunch, Nomupay earns fees linked to transaction volume, including payment acceptance and payouts.

TechCrunch reported management expectations that Nomupay would exceed $45 million in gross annualised run-rate revenue and $20 million in net revenue by the end of 2025. These were forecasts reported in June 2025, not audited results or verified August 2026 performance figures.

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Nomupay’s funding history

TechCrunch described the SBPS investment as Nomupay’s Series C. It followed a roughly $37 million Series B in January 2025 at a reported $200 million valuation. Nomupay’s own news archive also records a $53.6 million round in May 2023.

TechCrunch reported total funding of approximately $120 million after the latest investment. The movement from a reported $200 million valuation to an implied $290 million valuation in roughly five months is notable, but it is not automatically a 45% increase in the underlying value of the business. Financing terms, dilution and the type of shares issued can affect headline valuations.

Acquisitions underpin the expansion strategy

Nomupay acquired Manchester-based Total Processing in 2023. In its announcement, Nomupay said the deal added payment processing, recurring payments, risk management, compliance and integration capabilities while expanding its European, UK, UAE and Middle Eastern reach.

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The company’s broader approach has involved combining acquisitions, licences, regulated entities and local payment partnerships. These are not interchangeable:

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  • An acquisition may provide an operating business, customers or technology.
  • A licence purchase or transfer may provide regulatory permissions, but not the former company’s entire business or liabilities.
  • A local partnership may provide payment connectivity without giving Nomupay a direct licence in that market.

A 2025 report said Nomupay began operations in 2021 after buying licences connected to Wirecard-related assets following Wirecard’s collapse. That history should not be interpreted as Nomupay inheriting Wirecard’s entire business or liabilities.

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Why the deal could be valuable

  • Distribution: SBPS may introduce Nomupay to an existing Japanese merchant base.
  • Local-market access: A domestic payments partner can be more useful for market entry than general venture capital alone.
  • Payment-method expansion: Japanese methods and card support could improve the platform’s usefulness for cross-border merchants.
  • Two-way commerce: The alliance targets both Japanese companies expanding abroad and overseas companies entering Japan.
  • Regulated growth: Capital can fund licences, compliance staff, local acquiring relationships and operational infrastructure.

The risks and unanswered questions

Cross-border payments are operationally difficult. Adding countries and payment methods increases the burden of onboarding, fraud monitoring, reconciliation, settlement and regulatory compliance.

  • A strategic shareholder can create commercial alignment but may influence product priorities.
  • A financing valuation does not prove what Nomupay would be worth in an acquisition or public market.
  • Management’s profitability and revenue targets were forecasts, not verified current results.
  • Direct licences do not guarantee direct acquiring or identical service in every market.
  • Nomupay lists high-risk sectors including cryptocurrency, gambling, forex, adult entertainment, travel and money transfer. These categories can involve higher fraud, chargeback, reserve and compliance costs.

Public reporting does not establish:

  • Whether the investment had completed after approvals
  • Whether SBPS received common or preferred equity
  • Whether the deal included exclusivity, minimum volumes or other commercial commitments
  • How much of the investment went to Nomupay versus any secondary share sale
  • Whether Nomupay obtained a Japanese licence or relies on SBPS and other partners
  • Nomupay’s audited 2025 revenue, margins, losses or transaction volume
  • The precise terms behind the valuation

What the deal means for merchants

A single Nomupay integration does not remove local requirements. Merchants may still face country-specific onboarding, know-your-customer checks, merchant-category restrictions, reserves, chargeback liability, foreign-exchange costs and payment-method-specific refund rules.

Nomupay’s merchant terms also note that card-network rules affect which Nomupay entity may provide services to a merchant in a particular card-network region. Prospective customers should confirm the contracting entity, direct-versus-partner coverage, settlement currencies, payout timing, reserves, chargeback fees and foreign-exchange spread.

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How it compares with other providers

The right provider depends on target countries, risk category, transaction volume and settlement needs—not on funding headlines.

  • Stripe is generally attractive for developer familiarity, APIs and self-serve tooling, while Nomupay focuses more heavily on selected fragmented and difficult markets.
  • Adyen is oriented toward larger enterprises seeking global acquiring and payments infrastructure.
  • Airwallex combines payments with multi-currency accounts, FX and payouts, making it particularly relevant to businesses with broader treasury needs.

Businesses comparing providers should examine direct licences versus partner coverage, available payment methods, settlement speed, reserves, fraud tools, recurring billing, marketplace payouts, API quality, PCI responsibilities, FX costs and support escalation.

The Bottom Line

Bottom line: Nomupay’s deal was a strategic $40 million investment by SoftBank Corp.’s payments subsidiary, SBPS—not a directly documented Vision Fund investment. The 13.8% stake implies approximately $290 million post-money, but the more important element is the planned commercial link between Nomupay’s cross-border infrastructure and SBPS’s Japanese merchant network. The opportunity is substantial, while the transaction’s completion status, detailed equity terms, Japanese coverage and current financial performance remain unverified in the public information cited here.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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