Finch Capital, a Dutch venture capital firm, has started a Dublin – based company to acquire and invest in Fintech companies in Turkey and the Middle East.
Wirecard, a division of the shattered German payment giant, was acquired by Turkey through its newly created Nomu Pay.
Nomo, which means growth in Arabic, established and fully financed Finch Capital to invest in payments and fintech operations in the region.
We want to invest in more companies in the region. Ranchboud Vlar, managing partner of Finch Capital.
“”We have invested in a model similar to buying and growing Supply Finance, an organic Dublin product.
“We have two great entrepreneurs with experience working with us to get out of Ireland and achieve that success, and then from Ireland.”
Vlar said there is a great opportunity to expand digital payment services in the Middle East and Nomu will look for more buying deals in those markets.
Wire official approval Wirecard Turkey contract is expected to expire the remaining summer.
The German wire card crashed last year following allegations of corruption worth 1.9 billion euros. Former Chief Operating Officer Jan Marsalik escapes.
The company then sold its assets and subsidiaries.
Ireland-based WireCard acquired a portion of UK & Ireland’s corporate card assets last October with Bulgarian payment company Paynetics.
Finch Capital is a regular investor in Ireland. Earlier this year, the company partnered with Enterprise Ireland to raise $ 20 million in new funds to support fintech startups.
In February, the company invested $ 5.8 million in accounts in Dublin, a financial management software company.
The company has also helped fundraise for fintech companies and Dublin-based AI startup Allianz, leading a $ 5 million round in 2019.