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July 13, 2021

Nomu Pay finalises purchase of Wirecard entities in Malaysia, Hong Kong

By Shalini mani

Finch Capital-backed payments firm Nomu Pay has concluded the acquisition of Wirecard Payment Solutions Malaysia and Wirecard Payment Solutions Hong Kong.

The company agreed to buy the Asia-Pacific entities of collapsed German payments group Wirecard in April this year.

In addition to Hong Kong and Malaysia entities, Nomu Pay also agreed to buy Wirecard’s payment units in the Philippines, Thailand and Turkey.

The company said that it is currently in the process of finalising other transactions related to Wirecard entities.

These acquisitions are part of the company’s strategy to create a unified payments company with focus on high-growth customer segments in Asia-Pacific, the Middle East and Europe.

The acquisition will enable Nomu Pay to have a foothold in five countries with access to 300 million people.

New Group CEO

In line with the latest developments, Nomu Pay has appointed Peter Burridge as the new Group CEO.

Burridge, who has spent over 30 years at rapid growth technology companies, specialises in strategic management and the global development of financial technologies companies.

He joins Nomu Pay from Hyperwallet, where he led the business through recapitalisation, global expansion and finally, the sale of the firm to PayPal.

Prior to that, he held leadership positions at Oracle, Siebel, and Travelex Global Business Payments.

In the new role, Burridge will be responsible for guiding Nomu Pay’s team in the areas of corporate and business development, market entry, the establishment of operations, licensing, and compliance.

Burridge said: “Nomu Pay is an innovator with the vision of transforming the payments landscape across Asia-Pacific and EMEA. The payments ecosystem has transformed because of the Covid-19 pandemic, and merchants and financial players are committed to innovation.

“This provides us with a unique opportunity and we are committed to achieving growth alongside our clients by bringing the latest payments technology to market.”

Finch Capital managing partner Radboud Vlaar said: “We are very pleased with the first closings and very excited that Peter joins us as CEO.

“We are committed to supporting Peter and his team to provide the funding and help needed to accelerate the growth and establishment of the company in key markets.”

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