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Nium retains Unicorn status on $50 million Series E

Nium retains Unicorn status on $50 million Series E

Cross-border B2B payments operator Nium has raised $50 million in a Series E funding round.

The round was led by a sovereign wealth fund in Southeast Asia and values the company at US$1.4 billion post-money. The sovereign wealth fund joins other newly added investors from Nium’s prior funding round, including BOND, NewView Capital, and Tribe Capital.

Prajit Nanu, founder and CEO at Nium, says: “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 marketplaces, SaaS platforms, travel, and financial institutions, for whom payments are mission critical.”

With regulatory licences and authorizations in more than 40 countries, Nium's payout network supports 100 currencies and spans 220+ countries, 100 of which operate in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets.

Nium has experienced strong revenue growth of 50%+ in 2023 compared to 2022, backed by recent client wins such as Australian expense management leader, Weel and one of UAE’s leading banks, Emirates NBD.

Adds Nanu: “Our recent enterprise wins with globally recognized brands show that there is strong demand for our customer-centric B2B payment solutions as global businesses overhaul systems for the real-time era.”

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