Wirecard, a German fintech that raised hundreds of millions of dollars only to collapse in 2020 in a sea of scandal and insolvency, still makes headlines today as lawsuits continue against different entities and people once connected to the business. Meanwhile, a Dublin-based startup called Nomupay that was formed in 2023 out of some of Wirecards regional payment licenses, has been on a quiet growth trajectory, solving payment problems in areas that bigger companies like Adyen and Stripe have yet to tackle.Focused primarily on cross-border payments for merchants across Asia and the Middle East, Nomupay has now raised $37 million in funding to expand its business. The Series B funding from Endeit Capital, Uneti Ventures and previous backers comes on the heels of Nomupays revenue growing 100% annually for the last two years, and a projection that it will turn profitable this year on ARR of about $20 million.We understand that Nomupays valuation has grown, too, to around $200 million. The company has now raised around $90 million in total, including a $53.6 million investment in 2023, from investors that included Finch Capital, the VC firm that bought the Wirecard licenses and established Nomupay to turn those licenses into a business.Nomupays unique selling point is that its building cross-border payment rails and enabling payments for users between countries that Peter Burridge, Nomupays founder and CEO, claims larger players like Stripe and Adyen have overlooked for being too complex or too small. Nomupay is striking while the iron is hot: Not only are businesses in its target regions underserved, but thanks to the boom of e-commerce, they are demanding more.Burridge refers to larger payment providers as monos monoliths that require buy-in to wider suites of services that the customers who use Nomupay typically do not need, while not providing them with the facilities that they do.At Nomupays advantage is that the payment landscape has always been fragmented, even within single countries, and compounding that across multiple geographies becomes even harder to parse.There are more than 5,000 ISOs for Visa alone, he said. They all use some kind of gateway or point of sale technology to access card schemes and payment methods. I look at us as enabling everybody else to compete with these bigger businesses. ISOs are Independent Sales Organizations, merchant services companies registered with card brands, which partner with payment processors, allowing them to sell and service merchant accounts.Malaysia alone has some 20 different payment methods and 20 different wallets that potentially need to be supported at a point of payment; those numbers become even more complex when you add in more countries.We are solving problems that havent been solved before, Burridge said. He did not say how many customers the company has working across its network today, but they include the likes of Ikea, which runs payments for its stores in Malaysia, Philippines and Thailand on Nomupay.One aim of the new investment will be to further Nomupays M&A strategy. The company said it has operations in Kuala Lumpur, Singapore, Philippines, Hong Kong and Thailand, and its currently in talks with a fintech in Singapore, primarily to secure a license for the country. The companys other targets for expansion include Indonesia, Japan and Vietnam. Outside of Asia, Nomupay also has operations in Ireland (Dublin), the U.K. (London and Manchester, where it acquired a startup called Total Processing), Estonia (Vilnius), Turkey (Istanbul), Dubai and New Zealand.One vote of confidence about its newest investors: Burridge mentioned that Uneti, which was founded by Adyens earliest employees, only became an investor after Endeit Capital in the Netherlands brought Uneti in as an advisor to run due diligence. They liked it so much they wanted to invest themselves, he said proudly. For us, that was a validation of the platform.