New investors include Visa and BRI Ventures
Global fintech platform Nium announced its latest fundraise . Visa, the world’s leader in digital payments, participated in the round along with existing investors. Another new investor to join the fold was BRI Ventures, the Corporate Venture arm of Bank BRI of Indonesia.
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The funding announcement comes on the heels of major wins for Nium in 2020, some of which were:
- Winning the account of a large European marketplace payment provider to process a billion Euros annually
- Winning a large international bid for one of the world’s biggest maritime businesses to process crew payments via cards and collections for vessel management
- Working with a prominent Asian Neobank to help them expand overseas by providing international collections
- Supporting the development of a migrant bank in the US through integration of Nium’s Banking-as-a-Service stack
Nium has carved a niche for itself and its diversified suite of offerings, with clients often approaching them to solve problems at the cross section of Send, Spend and Receive. As part of their own consumer and SME remittance offering (InstaReM) and remittance-as-a-service capabilities, Nium now reaches millions of customers across 10 licensed jurisdictions[1] with Japan and Indonesia being the latest additions. On the enterprise front, they serve clients across six continents. Through a fully micro-service driven model, Nium solves inefficiencies that plague traditional payment processes across industries like eCommerce, large corporates to SMEs, from services such as payroll disbursement to travel & expenses management etc.
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“I am thrilled to announce that we have closed another round of funding and added two more prestigious investors to our cap table. Visa and BRI Ventures’ participation is a vote of confidence for our business model and its resilience despite the climate,” said Prajit Nanu, CEO and Co-Founder of Nium.
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