Global Payments Company Nium raised $50 million in a Series E funding round, valuing the company at $1.4 billion.
The round was led by Southeast Asian sovereign wealth funds and also included participation from existing investors BOND, NewView Capital and Tribe Capital.
The funds will be used to accelerate Nium’s growth in the B2B payments market, which is predicted to reach $175 trillion by 2030.
This includes expanding our global network, driving product innovation, recruiting top talent and pursuing mergers and acquisitions.
In 2023, Nium reported revenue growth of more than 50% compared to 2022, focusing on product development and new features for industries such as travel, payroll, spend management and financial services.
Nium holds regulatory licenses in over 40 countries and has recently Financial Services Agency of Japan and New Zealand Financial Services Provider Registration.
Recent clients include Australian expense management company Weel and Emirates NBD in the UAE.
Nium also strengthened its leadership team with the hiring of Alexandra Johnson as chief payables officer, Rissy Ruddy as chief human resources officer and Anton Pasiechnikov as vice president of finance.
Prajit Nanu
“This investment is a testament to our global success at a time when fundraising is extremely challenging for late-stage venture-backed companies. Our investors believe in our long-term mission to build the payments infrastructure for on-demand funds movement, and this additional investment will allow us to accelerate our goals. We are honored to have this backing and look forward to working closely with them to advance the business.”
Prajit Nanu, Founder and CEO of Nium said:
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