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Finch Capital, a UK and Amsterdam-focused venture firm, has reached an agreement to acquire Wirecard Payment’s entities in Hong Kong, Malaysia, Philippines and Thailand through Nomu Pay, a vehicle that invests in payment assets.
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 had announced plans to acquire Wirecard Turkey as well.
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 at Finch Capital said, “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.”
Hans de Back, Managing Partner at Finch Capital said, “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.”
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