Nium has raised $50 million in its Collection E spherical with plans to speed up its development within the B2B funds market.
The true-time, cross-border funds firm obtained the funding within the spherical led by an unidentified sovereign wealth fund in Southeast Asia. The fund joins different former traders together with BOND, Tribe Capital and NewView Capital.
With the brand new funding, Singapore-based Nium sits at a valuation of $1.4 billion, the corporate stated in its Tuesday announcement.
“This funding defies present funding sentiment in fintech and is a vote of confidence in Nium’s development ambitions, notably as we concentrate on serving the wants marketplaces, SaaS platforms, journey and monetary establishments, for whom funds are mission essential,” stated Prajit Nanu, founder and CEO of Nium.
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Nanu continued: “Our current enterprise wins with globally acknowledged manufacturers present that there’s robust demand for our customer-centric B2B fee options as world companies overhaul methods for the real-time period.”
In 2023, Nium noticed a income uptick of fifty% compared to 2022, which it attributes to its product growth roadmap. The corporate additionally has seen an growth of a license portfolio that enables it to do enterprise in a number of jurisdictions. Nium has regulatory authorizations in additional than 40 nations and lately obtained approvals in Japan and New Zealand.
Nium intends to make use of the funding to rent prime tier expertise, gas world community growth, push product innovation and to pursue mergers and acquisitions. In 2021 Nium acquired Ixaris, ending its close to two-decade tenure as an unbiased firm.
“This funding is proof of our world success at a time when elevating cash is exceptionally troublesome for late-stage, venture-backed corporations,” stated Nanu. “Our traders imagine in our long-term mission of constructing the funds infrastructure for on-demand cash motion and this extra funding will enable us to speed up our aspirations.”
