- Nium raises $50M, reaches $1.4B valuation.
- Sovereign wealth fund leads series E funding round.
- Nium to focus on B2B payments expansion.
Singapore’s rising star shines bright
Nium, a Singapore-based payments startup, has raised an impressive US$50 million in its series E funding round. The company, backed by Singapore’s GIC and Temasek, now boasts a post-money valuation of US$1.4 billion.
The funding round, led by a Southeast Asian sovereign wealth fund, included participation from new investors such as Bond, NewView Capital, and Tribe Capital.
This investment showcases the confidence in Nium’s growth ambitions, despite the current fintech funding sentiment.
Nium’s got big plans (and cash too)
Nium plans to utilize the funds to accelerate its growth plans in the B2B payments market. The company will focus on global network expansion, product innovation, and potential M&A activity.
Nium’s revenue in 2023 increased by more than 50% compared to the previous year, thanks to its focused product development roadmap and recent client wins, including Australian expense management leader Weel and Emirates NBD, one of the UAE’s leading banks.
To read the original article: https://www.techinasia.com/nium-raises-50m-series
