Payments start-up, NomuPay, has acquired Total Processing for a sum believed to be around $35m.
The move would value the Manchester company at $135m and is set to “supercharge” its global growth.
Dublin-based NomuPay is an end-to-end payment platform and the acquisition comes just a few months after it completed Series A funding of $53.6m – in order to expand across Southeast Asia, Europe, Turkey and the Middle East.
Terms of the deal haven’t officially been published, but NomuPay did confirm that it would be a mixture of stock and cash.
“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,” explained 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.”
Total Processing said that a key driver behind the move was that NomuPay’s hierarchy recognised its “consultative approach, evident throughout the value chain, from seamless onboarding to improved authorisation rates and simplified backend management.”
“Having NomuPay’s acquiring capabilities underpinning our merchant servicing offering is a big leap forward, we’re aligned in our customer-first approach, and this partnership will supercharge Total Processing’s growth.” said Robert Pailin, Total Processing’s CEO.
“With more resources we’ll be able to innovate tech faster, expand into new markets, and bring even greater value to our merchants. Exciting times ahead!”
Following the acquisition, NomuPay plans to further scale Total Processing’s merchant tooling into Hong Kong and other key Southeast Asian markets.
It will also leverage its presence in the UK and UAE to bolster its own European operations and grow market share in the Middle East.
“At NomuPay, our goal is to provide our customers with an ‘all-access pass’ to payments, future-proofing their ability to successfully scale in high-growth regions,” added Burridge.
“The acquisition of Total Processing will enable us to unlock that access through dedicated solutioning and customer-driven servicing.
NomuPay was established in 2021, funded by Amsterdam VC, Finch Capital. It quickly moved to acquire Wirecard’s assets in Malaysia and Hong Kong.
