• Finch Capital

Finch Capital’s Nomu Pay acquires key Wirecard APAC entities



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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