Wednesday, June 5, 2024 Nium strengthens its leadership with new hires from Bank of America, PayPal, and Revolut, aiming to boost global operations, HR functions, and financial strategies. Nium, a leading provider of real-time cross-border payment solutions, has secured US$50 million in a Series E funding round. This round, spearheaded by a sovereign wealth fund from Southeast Asia, brings Nium’s valuation to US$1.
4 billion post-investment. The new investor joins previous backers from the company’s earlier funding stages, such as BOND, NewView Capital, and Tribe Capital. The freshly acquired capital will enable Nium to expedite its expansion in the B2B payments sector, anticipated to reach US$175 trillion by 2030.
Plans include extending its global network, enhancing product innovation, recruiting top-tier talent, and exploring merger and acquisition opportunities. “This investment defies current funding sentiment in fintech and is a vote of confidence in Nium’s growth ambitions, particularly as we focus on serving the needs marketplaces, SaaS platforms, travel, and financial institutions, for whom payments are mission critical,” said Prajit Nanu, Founder and CEO at Nium. “Our recent enterprise wins with globally recognized brands show that there is strong demand for our customer-centric B2B payment solutions as global businesses overhaul systems for the real-time era.
” Nium achieved impressive revenue growth of over 50% in 2023 compared to 2022. This success is.
