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Irish fintech NomuPay lands M at a 0M valuation from SoftBank | TechCrunch

Irish fintech NomuPay lands $40M at a $290M valuation from SoftBank | TechCrunch

As global trade evolves, there’s an increasing demand for diverse cross-border payment options. That’s why an Irish-based fintech startup called NomuPay has raised $40 million in a Series C round from SB Payment Service (SBPS), a subsidiary of Japanese telco giant SoftBank Corp, at a valuation of $290 million.

NomuPay makes it easier for merchants to process cross-border payments across the fragmented payment system in Asia, as well as for merchants and their customers in Europe, MENA, and the U.S.

The latest Series C funding round comes roughly five months after its previous $37 million Series B funding round at a $200 million valuation in January earlier this year, bringing its total raised to approximately $120 million.

The startup will use the new capital for the next phase, which involves expanding its reach in key regions, including Asia and beyond, as well as acquisitions. In addition, it will double down on scaling its sales and operations to reach both existing and new locations.

“Starting immediately, we will be adding Japan APMs [alternative payment methods] to our platform, enabling the rest of world merchants to plug into us and get access to Japanese consumers without having to have an entity in Japan,” Peter Burddige, CEO of NomuPay said in an interview with TechCrunch.

Burddige says it also plans to add SBPS cards to its platform, as well as multi-currency settlement and IC++ billing.

The startup CEO says his platform allows merchants to offer more local payment options to their customers without adding complexity to their back office. Additionally, it provides merchants with multi-currency virtual accounts and treasury services to manage their foreign exchange (FX).

“We enable merchants to manage their global payouts decoupled from their acquiring service. This enables the merchant to manage their currency exposures, their FX costs, and the entire payment experience of their suppliers and payees.  We use local payment networks to minimize costs and maximize transparency and speed,” Burddige continued.

Expanding businesses in Asia often face challenges in obtaining multiple licenses, navigating diverse regulations, and managing various payment methods, which can result in costly back-office operations and complexity. However, more companies are seeking accessibility to serve the Asian market.

The startup is close to announcing new coverage in Singapore, Indonesia, and Vietnam, which will significantly expand its presence in Oceania and Southeast Asia, Burddige told TechCrunch.

The four-year-old startup now serves more than 2,000 merchants across the globe, spanning Europe, the Middle East, and Asia. NomuPay acquired Totla Processing, a Manchester-based startup specializing in the development of payment processing solutions, including recurring payments, risk management, data security compliance, and payment integrations, in November 2023.

Burddige said that after receiving its last round of funding earlier this year, the company has successfully onboarded over 500 new merchants, is expected to increase its growth by over 70% year over year, and has expanded its team to over 250 employees.

The startup generates revenue by charging fees based on the volume of transactions processed by merchants, using payment acceptance services and payouts on platforms that serve both buyers and sellers

NomuPay expects to exceed $45 million in gross annualized run-rate revenues and $20 million in net revenue by the end of 2025, according to Burridge. “We have proven we can show profitable growth, but with the fresh funding, we have made a deliberate decision to focus on growth and expect profitability within 12 months.”

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Back in 2015, the two-person studio Metanet released N++, a brutally hard 2D platformer that was a decade in the making, building off of previous releases dating back to the freeware Flash title N. At the time, cofounder Raigan Burns issued some famous last words: “We hope it’s not another 10 years before we come up with a game.” But now here we are, more than a decade later, and N is getting another sequel. And this time the focus is on multiplayer.

The new game is called, absurdly, N Plus Infinity Times Two. Whereas N++ was meant to be the ultimate single-player version of the N concept, this game is described as “the ultimate virtual couch party game with a low skill floor and no skill ceiling.” That means the same slick, acrobatic platforming action and gorgeous graphic design-inspired visuals, but now built around playing competitively or cooperatively with pals across a handful of different modes. It’s launching on the PS5, Xbox, Switch 2, and PC at some point in 2027.

The duo at Metanet was up to a few different things over the last 11 years. In addition to uprooting from Toronto to Montreal, they’ve been prototyping ideas for a few potentially bigger projects, and last year released a 10-year anniversary update for N++. But then, “We started getting the ‘let’s take another crack at it’ bug in 2022,” Burns tells The Verge.

The studio operates in an unusual way, at least compared to most of the game industry. Despite having two hits in N+ and N++, Metanet hasn’t grown or scaled up in any way. And the reason comes down to the way they make games: It simply takes a lot of time to find a game idea that’s worth pursuing as a commercial project. “We’ve resisted doing something that would compromise our ability to keep iterating and prototyping until something good shows up,” says Burns.

“It’s important to feel that magic,” cofounder Mare Sheppard adds. “That’s what’s compelling about making games. That’s when we know that we’re doing it in a way that’s right for us.” Burns has a clear analogy for how they work: “We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.” This philosophy seems especially prescient given the state of the games industry, where even the biggest hits operate in a way that’s clearly unsustainable.

“We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.”

In the case of N Plus Infinity Times Two — unfortunately I can’t think of a good way to shorten that title — the spark came in part from watching how younger players interact with games. Even when they’re playing solo, kids are typically still chatting with friends on their phones, essentially turning everything into a multiplayer experience. Burns and Sheppard wanted to find a way to marry that idea with the couch co-op experiences they grew up on, which led to revisiting the N concept but with a multiplayer spin.

The two describe making N++ as a grueling experience. If you think the game’s levels are hard, just imagine having to playtest them over and over. Part of the excitement about N Plus Infinity Times Two wasn’t just finding a spin on the formula that would be fun to play, but also to develop. “This one really feels like we’re having fun,” says Burns. “We’re really fluent in this one instrument. So now the fun challenge becomes playing new styles of music we’ve never played before, but with this thing we’re really comfortable with.”

A screenshot from the video game N Plus Infinity Times Two.

Image: Metanet Software

As creative industries from games to Hollywood become increasingly homogenous, Burns also believes that there’s something important about doing work that’s distinct, even if it means revisiting a previous idea, like through the multiple versions of N. It’s similar to titles like Hades II and Silksong: indie-developed sequels that iterated a core concept, but with a fresh angle that made them more than a by-the-numbers follow-up. “Being yourself is more fun and exciting anyways,” Burns explains. “But I honestly think it’s more commercially viable to do something only you can do, because then you have no competition.”

As for what’s next after N Plus Infinity Times Two, the pair obviously aren’t revealing anything just yet. There are a few bigger 3D game ideas kicking around, but those would necessitate some of that scaling up that the studio has so far avoided. What they won’t close the door on, however, is coming back to the idea of N again at some point in the future.

“If we can do something that expresses something new, or lets us see things in a different way, or we get a different perspective on what this game is or how to play it, that’s exciting,” says Sheppard. “I think we no longer think this is definitively going to be the last one. We’ve abandoned that idea. It doesn’t have to be.”

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
#decade #team #multiplayer #sequelEntertainment,Gaming,Interview,Report">More than a decade later, the team behind N++ is back with a multiplayer sequelBack in 2015, the two-person studio Metanet released N++, a brutally hard 2D platformer that was a decade in the making, building off of previous releases dating back to the freeware Flash title N. At the time, cofounder Raigan Burns issued some famous last words: “We hope it’s not another 10 years before we come up with a game.” But now here we are, more than a decade later, and N is getting another sequel. And this time the focus is on multiplayer.The new game is called, absurdly, N Plus Infinity Times Two. Whereas N++ was meant to be the ultimate single-player version of the N concept, this game is described as “the ultimate virtual couch party game with a low skill floor and no skill ceiling.” That means the same slick, acrobatic platforming action and gorgeous graphic design-inspired visuals, but now built around playing competitively or cooperatively with pals across a handful of different modes. It’s launching on the PS5, Xbox, Switch 2, and PC at some point in 2027.The duo at Metanet was up to a few different things over the last 11 years. In addition to uprooting from Toronto to Montreal, they’ve been prototyping ideas for a few potentially bigger projects, and last year released a 10-year anniversary update for N++. But then, “We started getting the ‘let’s take another crack at it’ bug in 2022,” Burns tells The Verge.The studio operates in an unusual way, at least compared to most of the game industry. Despite having two hits in N+ and N++, Metanet hasn’t grown or scaled up in any way. And the reason comes down to the way they make games: It simply takes a lot of time to find a game idea that’s worth pursuing as a commercial project. “We’ve resisted doing something that would compromise our ability to keep iterating and prototyping until something good shows up,” says Burns.“It’s important to feel that magic,” cofounder Mare Sheppard adds. “That’s what’s compelling about making games. That’s when we know that we’re doing it in a way that’s right for us.” Burns has a clear analogy for how they work: “We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.” This philosophy seems especially prescient given the state of the games industry, where even the biggest hits operate in a way that’s clearly unsustainable.“We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.”In the case of N Plus Infinity Times Two — unfortunately I can’t think of a good way to shorten that title — the spark came in part from watching how younger players interact with games. Even when they’re playing solo, kids are typically still chatting with friends on their phones, essentially turning everything into a multiplayer experience. Burns and Sheppard wanted to find a way to marry that idea with the couch co-op experiences they grew up on, which led to revisiting the N concept but with a multiplayer spin.The two describe making N++ as a grueling experience. If you think the game’s levels are hard, just imagine having to playtest them over and over. Part of the excitement about N Plus Infinity Times Two wasn’t just finding a spin on the formula that would be fun to play, but also to develop. “This one really feels like we’re having fun,” says Burns. “We’re really fluent in this one instrument. So now the fun challenge becomes playing new styles of music we’ve never played before, but with this thing we’re really comfortable with.”Image: Metanet SoftwareAs creative industries from games to Hollywood become increasingly homogenous, Burns also believes that there’s something important about doing work that’s distinct, even if it means revisiting a previous idea, like through the multiple versions of N. It’s similar to titles like Hades II and Silksong: indie-developed sequels that iterated a core concept, but with a fresh angle that made them more than a by-the-numbers follow-up. “Being yourself is more fun and exciting anyways,” Burns explains. “But I honestly think it’s more commercially viable to do something only you can do, because then you have no competition.”As for what’s next after N Plus Infinity Times Two, the pair obviously aren’t revealing anything just yet. There are a few bigger 3D game ideas kicking around, but those would necessitate some of that scaling up that the studio has so far avoided. What they won’t close the door on, however, is coming back to the idea of N again at some point in the future.“If we can do something that expresses something new, or lets us see things in a different way, or we get a different perspective on what this game is or how to play it, that’s exciting,” says Sheppard. “I think we no longer think this is definitively going to be the last one. We’ve abandoned that idea. It doesn’t have to be.”Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.Andrew WebsterCloseAndrew WebsterSenior entertainment editorPosts from this author will be added to your daily email digest and your homepage feed.FollowFollowSee All by Andrew WebsterEntertainmentCloseEntertainmentPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All EntertainmentGamingCloseGamingPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All GamingInterviewCloseInterviewPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All InterviewReportCloseReportPosts from this topic will be added to your daily email digest and your homepage feed.FollowFollowSee All Report#decade #team #multiplayer #sequelEntertainment,Gaming,Interview,Report

N++, a brutally hard 2D platformer that was a decade in the making, building off of previous releases dating back to the freeware Flash title N. At the time, cofounder Raigan Burns issued some famous last words: “We hope it’s not another 10 years before we come up with a game.” But now here we are, more than a decade later, and N is getting another sequel. And this time the focus is on multiplayer.

The new game is called, absurdly, N Plus Infinity Times Two. Whereas N++ was meant to be the ultimate single-player version of the N concept, this game is described as “the ultimate virtual couch party game with a low skill floor and no skill ceiling.” That means the same slick, acrobatic platforming action and gorgeous graphic design-inspired visuals, but now built around playing competitively or cooperatively with pals across a handful of different modes. It’s launching on the PS5, Xbox, Switch 2, and PC at some point in 2027.

The duo at Metanet was up to a few different things over the last 11 years. In addition to uprooting from Toronto to Montreal, they’ve been prototyping ideas for a few potentially bigger projects, and last year released a 10-year anniversary update for N++. But then, “We started getting the ‘let’s take another crack at it’ bug in 2022,” Burns tells The Verge.

The studio operates in an unusual way, at least compared to most of the game industry. Despite having two hits in N+ and N++, Metanet hasn’t grown or scaled up in any way. And the reason comes down to the way they make games: It simply takes a lot of time to find a game idea that’s worth pursuing as a commercial project. “We’ve resisted doing something that would compromise our ability to keep iterating and prototyping until something good shows up,” says Burns.

“It’s important to feel that magic,” cofounder Mare Sheppard adds. “That’s what’s compelling about making games. That’s when we know that we’re doing it in a way that’s right for us.” Burns has a clear analogy for how they work: “We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.” This philosophy seems especially prescient given the state of the games industry, where even the biggest hits operate in a way that’s clearly unsustainable.

“We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.”

In the case of N Plus Infinity Times Two — unfortunately I can’t think of a good way to shorten that title — the spark came in part from watching how younger players interact with games. Even when they’re playing solo, kids are typically still chatting with friends on their phones, essentially turning everything into a multiplayer experience. Burns and Sheppard wanted to find a way to marry that idea with the couch co-op experiences they grew up on, which led to revisiting the N concept but with a multiplayer spin.

The two describe making N++ as a grueling experience. If you think the game’s levels are hard, just imagine having to playtest them over and over. Part of the excitement about N Plus Infinity Times Two wasn’t just finding a spin on the formula that would be fun to play, but also to develop. “This one really feels like we’re having fun,” says Burns. “We’re really fluent in this one instrument. So now the fun challenge becomes playing new styles of music we’ve never played before, but with this thing we’re really comfortable with.”

A screenshot from the video game N Plus Infinity Times Two.

Image: Metanet Software

As creative industries from games to Hollywood become increasingly homogenous, Burns also believes that there’s something important about doing work that’s distinct, even if it means revisiting a previous idea, like through the multiple versions of N. It’s similar to titles like Hades II and Silksong: indie-developed sequels that iterated a core concept, but with a fresh angle that made them more than a by-the-numbers follow-up. “Being yourself is more fun and exciting anyways,” Burns explains. “But I honestly think it’s more commercially viable to do something only you can do, because then you have no competition.”

As for what’s next after N Plus Infinity Times Two, the pair obviously aren’t revealing anything just yet. There are a few bigger 3D game ideas kicking around, but those would necessitate some of that scaling up that the studio has so far avoided. What they won’t close the door on, however, is coming back to the idea of N again at some point in the future.

“If we can do something that expresses something new, or lets us see things in a different way, or we get a different perspective on what this game is or how to play it, that’s exciting,” says Sheppard. “I think we no longer think this is definitively going to be the last one. We’ve abandoned that idea. It doesn’t have to be.”

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.

#decade #team #multiplayer #sequelEntertainment,Gaming,Interview,Report">More than a decade later, the team behind N++ is back with a multiplayer sequel

Back in 2015, the two-person studio Metanet released N++, a brutally hard 2D platformer that was a decade in the making, building off of previous releases dating back to the freeware Flash title N. At the time, cofounder Raigan Burns issued some famous last words: “We hope it’s not another 10 years before we come up with a game.” But now here we are, more than a decade later, and N is getting another sequel. And this time the focus is on multiplayer.

The new game is called, absurdly, N Plus Infinity Times Two. Whereas N++ was meant to be the ultimate single-player version of the N concept, this game is described as “the ultimate virtual couch party game with a low skill floor and no skill ceiling.” That means the same slick, acrobatic platforming action and gorgeous graphic design-inspired visuals, but now built around playing competitively or cooperatively with pals across a handful of different modes. It’s launching on the PS5, Xbox, Switch 2, and PC at some point in 2027.

The duo at Metanet was up to a few different things over the last 11 years. In addition to uprooting from Toronto to Montreal, they’ve been prototyping ideas for a few potentially bigger projects, and last year released a 10-year anniversary update for N++. But then, “We started getting the ‘let’s take another crack at it’ bug in 2022,” Burns tells The Verge.

The studio operates in an unusual way, at least compared to most of the game industry. Despite having two hits in N+ and N++, Metanet hasn’t grown or scaled up in any way. And the reason comes down to the way they make games: It simply takes a lot of time to find a game idea that’s worth pursuing as a commercial project. “We’ve resisted doing something that would compromise our ability to keep iterating and prototyping until something good shows up,” says Burns.

“It’s important to feel that magic,” cofounder Mare Sheppard adds. “That’s what’s compelling about making games. That’s when we know that we’re doing it in a way that’s right for us.” Burns has a clear analogy for how they work: “We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.” This philosophy seems especially prescient given the state of the games industry, where even the biggest hits operate in a way that’s clearly unsustainable.

“We like being in a band. That’s fun. Being in a lot of meetings and doing a lot of managing: not fun.”

In the case of N Plus Infinity Times Two — unfortunately I can’t think of a good way to shorten that title — the spark came in part from watching how younger players interact with games. Even when they’re playing solo, kids are typically still chatting with friends on their phones, essentially turning everything into a multiplayer experience. Burns and Sheppard wanted to find a way to marry that idea with the couch co-op experiences they grew up on, which led to revisiting the N concept but with a multiplayer spin.

The two describe making N++ as a grueling experience. If you think the game’s levels are hard, just imagine having to playtest them over and over. Part of the excitement about N Plus Infinity Times Two wasn’t just finding a spin on the formula that would be fun to play, but also to develop. “This one really feels like we’re having fun,” says Burns. “We’re really fluent in this one instrument. So now the fun challenge becomes playing new styles of music we’ve never played before, but with this thing we’re really comfortable with.”

A screenshot from the video game N Plus Infinity Times Two.

Image: Metanet Software

As creative industries from games to Hollywood become increasingly homogenous, Burns also believes that there’s something important about doing work that’s distinct, even if it means revisiting a previous idea, like through the multiple versions of N. It’s similar to titles like Hades II and Silksong: indie-developed sequels that iterated a core concept, but with a fresh angle that made them more than a by-the-numbers follow-up. “Being yourself is more fun and exciting anyways,” Burns explains. “But I honestly think it’s more commercially viable to do something only you can do, because then you have no competition.”

As for what’s next after N Plus Infinity Times Two, the pair obviously aren’t revealing anything just yet. There are a few bigger 3D game ideas kicking around, but those would necessitate some of that scaling up that the studio has so far avoided. What they won’t close the door on, however, is coming back to the idea of N again at some point in the future.

“If we can do something that expresses something new, or lets us see things in a different way, or we get a different perspective on what this game is or how to play it, that’s exciting,” says Sheppard. “I think we no longer think this is definitively going to be the last one. We’ve abandoned that idea. It doesn’t have to be.”

Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
#decade #team #multiplayer #sequelEntertainment,Gaming,Interview,Report

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