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Amsterdam, London and Dublin, 16 April 2021 -- Finch Capital, through Nomu
Pay, has today reached an agreement to acquire Wirecard Payment entities in
Hong Kong, Malaysia, Philippines and Thailand.
The transactions are expected to be completed in May 2021 for Thailand,
Malaysia and Hong Kong, and for the Philippines later in the year. In March 2021,
Nomu Pay announced plans to acquire Wirecard Turkey. Details on
Management, Strategy and Rebranding will be provided at closing.
This investment is part of Nomu Pay’s larger plan to build out a leading unified
payment company in high growth customer segments in EMEA and Asia.
Following these deals, Nomu Pay will be active in five countries, with access to
markets of 300 million people and a GDP equal to that of India.
Radboud Vlaar, Managing Partner Finch Capital, comments: “As a pan-European
and pan-Asian firm we are bullish on the growth in these regions and have
reserved significant capital to invest in them through Nomu Pay. Acquiring
Wirecard APAC’s key entities provides us with access and infrastructure to invest
in improving the payments landscape for millions of people.”
Nomu Pay’s interest in Wirecard subsidiaries in Thailand, Hong Kong, Malaysia
and Philippines is the unique opportunity to deliver unified payments services to
these markets:
● Hong Kong is the main financial center of the region, and through
Wirecard, Nomu Pay can deliver payment services to clients in this
regional and financial hub. Merchant acquiring is currently not regulated in
HK and there are local (principal) memberships in place with the largest
card schemes.
● Thailand is a fast growing market, and this is a unique opportunity to
deliver payments services there with an E-Payment service license from
the Bank of Thailand.
● Malaysia is a fully operational regional hub for delivering payment services
in the region, and Wirecard Malaysia is a principal member of Visa &
Mastercard and registered merchant acquirer under supervision of local
central bank.
● Wirecard Philippines has a payment license, EMI license and local
(principal) memberships with the major card schemes. In the Philippines
both payment and e-money services are included, so we can offer
payment issuing, acquiring and wallet services to local businesses.
Hans de Back, Managing Partner at Finch Capital, comments: “The Covid-19
outbreak has drastically accelerated Southeast Asia's shift to a cashless world,
with unprecedented growth in the number of e-payment transactions. With this
acquisition we hope to play a substantial role in the next frontier of the region’s
payments infrastructure.”
About Finch Capital
Founded in 2013, Finch Capital’s mission is to fund and support the entrepreneurs
creating products that shape the future of finance. Finch Capital’s team of 12 investment
professionals are entrepreneurs (e.g. Adyen, Deliveroo, Deepmind) and investors (e.g.
Accel, Atomico, Egeria) with deep industry backgrounds (e.g. Facebook, Google and
McKinsey&Co), located across offices in Amsterdam, London and Jakarta. Its track
record includes AccountsIQ, Aylien, BUX, Brytlyt, Fixico, Fouthline, Goodlord, Grab,
Hiber, ScalingFunds, Twisto and ZOPA. Finch Capital produces original research
including the State of European Fintech and the Fintech sector post Covid-19. For more
information see www.finchcapital.com.
About Nomu Pay
Nomu Pay is a newly established company that through its subsidiaries will provide
state of the art unified payment solutions to help its clients accelerate growth in large
high growth countries in Asia, Turkey and the Middle East region. NOMU Pay is funded
by Finch Capital, a leading European and South East Asian Financial Technology
investor.
About WireCard Hong Kong, Philippines, Malaysia and Thailand
Wirecard ‘APAC’ was started in 2017, when Wirecard acquired Citi Bank’s acquiring
portfolio and prepaid card services business in the region in 11 countries. Wirecard Asia
provides financial institutions and regional merchants in Asia Pacific with a wide variety
of payment and issuing processing as well as fraud management solutions. Catering to
the specific needs of regional merchants across a broad spectrum of industries, we are
connected to major financial institutions and local payment schemes in Asia Pacific, and
hold issuing and acquiring licenses from major payment and card networks. We provide
both business customers and consumers with a constantly expanding ecosystem of
real-time value services built around innovative digital payments using an integrated
B2B2C approach.
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