Manchester-based fintech company Total Processing has been acquired by Irish payments platform NomuPay for $35m (£28m).
NomuPay was formed out of the assets salvaged from the collapsed German fintech company Wirecard in 2021.
Dublin-headquartered NomuPay provides an end-to-end payment platform. The company said it would integrate Total Processing’s merchant services, which include recurring payment collections and risk management tools.
The deal is a mixture of stock and cash, with the total value of the company now $135m, TechCrunch first reported.
The acquisition comes after NomuPay secured $53.6m in Series A funding in May this year.
NomuPay said the acquisition would support its expansion across Southeast Asia, Europe and Turkey. The financial technology company is also planning to enter the Middle East.
“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,” said Peter Burridge, CEO of NomuPay.
The deal will give Total Processing greater access to markets in Hong Kong, Malaysia, Thailand, the Philippines and the EU.
“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,” said Robert Pailin, CEO of Total Processing.