Amsterdam, London and Dublin, 30 March 2021 — Finch Capital, through Nomu Pay, a vehicle that invests in payment assets, has today reached an agreement to acquire Wirecard Ödeme Ve Elektronik Para Hizmetleri (Wirecard Turkey). The deal is expected to be completed by Summer 2021 and is subject to certain conditions, including regulatory approvals.
This investment is part of Nomu Pay’s larger plan to invest in payments infrastructure in Turkey and the Middle East region. More details will be provided at closing on the strategy and rebranding.
Radboud Vlaar, Managing Partner Finch Capital, said: “We see tremendous growth opportunities to further enhance payments for Turkey’s 80 million inhabitants. We are excited to team up with Wirecard Turkey under the leadership of its CEO Serkan Yasin and we continue to actively look for further M&A opportunities in the region to accelerate its growth and development.”
About Finch Capital
Founded in 2013, Finch Capital is a series A/B investor in high-growth financial technologies companies run by exceptional entrepreneurs. Our mission is to fund and support the best entrepreneurs creating products that will shape the future of finance. We leverage our international network and industry expertise to enable our portfolio companies to grow into leaders in their field. We havea track-record of backing future industry champions including AccountsIQ, Aylien, BUX, Brickblock, Brytlyt, Fixico, Fouthline, Goodlord, Grab, Hiber, Twisto and ZOPA. Finch Capital consists of a team of 12 investment professionals with wide entrepreneurial experience (e.g. Adyen, Deliveroo, Deepmind), prior investment experience (e.g. Accel, Atomico, Egeria) and industry backgrounds (e.g. Facebook, Google and McKinsey), located across offices in Amsterdam, London and Jakarta. Finch Capital is an active producer of original research on the State of European Fintech and the Fintech sector post Covid-19.
About Nomu Pay
Nomu Pay is a newly established company that through its subsidiaries will provide state of the art payment solutions to help its clients accelerate growth in Turkey and the Middle East region. NOMU Pay is funded in full by Finch Capital, a leading European and South East Asian Financial Technology investor.
About WireCard Turkey
Wirecard Ödeme ve Elektronik Para Hizmetleri A.Ş. (“the Company”) was established in Turkey in July 2008 as Mikro Ödeme Sistemleri İletişim ve Ticaret A.Ş. and started its operations in April 2009 as Turkey’s first direct carrier billing service provider. The company, which has been in the investment and sales process twice since its establishment, received its first private investment in 2011. In 2014, all the shares of my company were acquired by Wirecard Issuing & Acquiring Gmbh which is a subsidiary of Wirecard AG and has been operating as “Wirecard Ödeme ve Elektronik Para Hizmetleri AŞ” since 2015.
Within the scope of the legal regulations issued in the Turkish payment services ecosystem, the company was granted the “e-money” license from the regulator in October 2016 as one of the first in the country.
The Company provides payment services in three main domains which are; Direct Carrier Billing, Credit Card Acquiring and E-money. The company’s main operational activities are acquisition of merchants through contracts, integrating merchants to the carrier billing & credit card payment platform, management of merchant settlements and providing customers to the merchant. Wirecard Turkey has currently contracts with all three GSM operators, majority of the banks in Turkey and more than 1200 merchants.