Nium, a Singapore-based global fintech platform, closed a funding round of undisclosed amount.
Backers included Visa and BRI Ventures, the Corporate Venture arm of Bank BRI of Indonesia.
The company intends to use the funds to further build out its diversified payment infrastructure offering that includes outreach to consumers, SMEs, large enterprises as well as banks and financial institutions. The newly raised funds will be largely directed towards product development and tuck-in acquisitions that compress time to market. For the latter, Nium will focus on vertical expertise in markets like Europe, India, U.K. and U.S.
Led by Prajit Nanu, CEO and Co-Founder, Nium is a global financial technology platform for consumers and businesses to send, spend and receive funds across borders. Nium is regulated in Australia, Canada, European Union, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore and the United States of America, and processes billions of dollars a year for banks and payments institutions, e-commerce players, OTAs and retail users across the world. The company currently operates its Send, Spend and Receive business in over 90 countries, 65 in real-time, and in 63 currencies.
Investors in Nium also include Vertex Ventures, Vertex Growth, Fullerton Financial Holdings, GSR Ventures, Rocket Internet, Global Founders Capital, SBI Japan, FMO (Netherlands Development Finance Company), MDI Ventures, Beacon Venture Capital and Atinum Investment.
FinSMEs
07/05/2020