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Nium raises $50m in Series E Round to expand real-time payments

By Delisha Fernandes

June 05, 2024

  • B2B payment
  • Cross Border Payments
  • Financial Institutions
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NiumNium, a global real-time cross-border payments provider, 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 $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. Nium will use the funds to further accelerate its growth plans in the B2B payments market, which is projected to reach $175 trillion by 2030, including fueling global network expansion, accelerating product innovation, hiring top talent, and pursuing M&A activity.

“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,” said Prajit Nanu, Founder and CEO at Nium. “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.”

Foundational to Nium’s success has been the recent expansion of its license portfolio, which allows it to do business directly in several jurisdictions. Nium also holds regulatory licenses and authorizations in more than 40 countries, and recently received additional approvals including a Type 1 Funds Transfer Service Provider (FTSP) license from Japan’s Financial Service Agency (FSA) and registration on the Financial Service Provider Register (FSPR) in New Zealand.

This year, Nium appointed former Bank of America executive, Alexandra Johnson, as Chief Payments Officer to oversee the businesses Global Banking and Payment Operations teams, former PayPal executive, Rissy Ruddy, as Chief Human Resources Officer to lead all people functions, and former Revolut executive, Anton Pasiechnikov, as VP of Finance.

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