The New Frontier for Global Payments – Announcing our investment in NomuPay

The global payments landscape has undergone significant transformation over the past two decades driven by innovation from companies such as Stripe, Adyen and PayPal. In the domestic US payments market this has enabled traditional payments methods such as cash, checks and wire transfers to be largely replaced by more efficient and accessible digital payment options such as debit and credit cards. It is now easier than ever for large enterprises or marketplaces to receive and pay-out funds at scale domestically.

However, as these enterprises and marketplaces expand internationally into cross-border payment flows they face increasingly complex challenges. The extreme inefficiencies of existing cross-border payment mechanisms include high costs, complex regulatory landscapes, low speed, limited access and insufficient transparency. These issues are so prevalent that the G20 and Financial Stability Board (FSB) endorsed a formal program to address these challenges.

Cross-border payments is a large and rapidly growing market as enterprises continue to expand their global footprint and reach; the cross-border e-commerce market alone was valued at ~$780B in 2021 and is expected to grow at a CAGR of over 26% to over $7T by 2031. APAC and Europe account for over 2/3rd of these purchase transactions though remain the most complex in terms of regulatory, currency and transaction mechanisms.

This is why we’re excited to lead NomuPay’s $13.6M Series A investment round as it continues its product growth towards becoming the leader in cross-border payments for global enterprises and marketplaces in APAC and Europe. We’re thrilled  to co-lead this investment with Finch Capital.

NomuPay’s unified payment API platform, with over 40+ payment transfer and regulatory licenses, enables enterprises to quickly onboard, expand and operate in APAC and Europe with minimal development. Importantly, NomuPay’s platform enables dozens of local pay-in and pay-out options, including a wide range of alternative payment methods (APMs). Through NomuPay’s platform for domestic acceptance, payments, and disbursements, enterprises are also able to dramatically increase authorization rates as well as reduce chargebacks on transactions. Customers love the broad regional coverage that NomuPay provides and the superior unified product suite to integrate with.

About the NomuPay Team

NomuPay is an exceptional team that we are lucky to partner with. NomuPay CEO Peter Burridge is the former President and COO at Hyperwallet, who led them through the acquisition by Paypal and held previous senior roles at both Travelex and Siebel Systems prior to the acquisition by Oracle. Other members of NomuPay’s senior leadership team have experience across the payments and fintech industry including Evo Payments, American Express, PayTM, Payvision and Ingenico.

NomuPay is growing fast and we’re looking forward to all they will continue to build. Find out more about the company here

About Outpost Ventures

Outpost Ventures, an investment platform of Neuberger Berman, invests in early stage fintech and b2b software companies. We provide collaborative capital, support and expertise to founders rooted in our teams deep operating and investing experience. We continue to actively invest and partner with exceptional teams and are always excited to connect with founders.