Cross-border B2B payments operator Nium has successfully secured $50 million in a Series E funding round.
The funding round was led by a sovereign wealth fund based in Southeast Asia, elevating the company’s valuation to $1.4 billion post-money. This sovereign fund joins other recent investors from Nium’s previous funding round, including BOND, NewView Capital, and Tribe Capital.
Prajit Nanu, founder and CEO of Nium, commented: “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 of marketplaces, SaaS platforms, travel, and financial institutions, for whom payments are mission-critical.”
Nium operates with regulatory licenses and authorizations across more than 40 countries, offering a payout network that supports 100 currencies and spans over 220 countries, including real-time operations in 100 locations. Funds can be disbursed to accounts, wallets, and cards and are available for local collection in 35 markets.
The company has experienced impressive revenue growth of over 50% in 2023 compared to 2022, bolstered by new client acquisitions such as the Australian expense management leader Weel and one of the UAE’s prominent banks, Emirates NBD.
Nanu added, “Our recent enterprise wins with globally recognized brands demonstrate the strong demand for our customer-centric B2B payment solutions as global businesses modernize for the real-time era.”