Manchester-based payments FinTech Total Processing has been bought for £28m ($35m).
The deal will enable Dublin firm NomuPay, a modern end-to-end payment platform, to expand throughout South East Asia, Europe, Turkey as well as enter the Middle East.
The acquisition comes just months after NomuPay raised £42.5m ($53.6m) in Series A funding.
Established in 2015, Total Processing is transforming the payment industry through its proprietary software.
The company employs around 90 staff at its offices Manchester, Dublin and UAE, servicing around 1,100 customers.
It was previously named as one of the UK’s fastest growing private financial technology companies by The Sunday Times.
As part of the deal, which consists of a mixture of stock and cash, Total Processing’s name and management team will remain in place.
NomuPay CEO, Peter Burridge, said: “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.
“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 merchant’s businesses.
“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.
“The acquisition of Total Processing will enable us to unlock that access through dedicated solutioning and customer-driven servicing.”
Engineered to simplify fragmented payment infrastructure throughout South East Asia, Europe and Turkey, NomuPay’s Unified Payments Platform provides scalable payment solutions and robust data management capabilities that are gateway agnostic.
Robert Pailin, Total Processing’s CEO, said: “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.
“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!”
Speaking to BusinessCloud, Pailin, who has been CEO at Total Processing for three years, said: “We are on a journey of pursuing our regulatory licences in the UK, EU and UAE.
“NomuPay is a PE-backed group so it gives us access to capital to continue our regulatory journey.
“It also gives us access to NomuPay’s development resources and develop the product offering.”
Founded in 2021, NomuPay is Institutional funded and has a presence in Dublin, Hong Kong, Kuala Lumpur, Manila, Istanbul and Bangkok