Nium bags $50m Series E funding as it gears up for potential 2025 IPO
Cross-border B2B payments platform Nium has secured $50 million in a Series E funding round at a post-money valuation of $1.4 billion, down 30% from its previous valuation of $2 billion in 2022.
Nium lands $50 million Series E funding
The round was led by an unnamed Southeast Asian sovereign wealth fund and supported by VC firms Tribe Capital, BOND, and NewView Capital.
Nium plans to use the new funds to fuel its M&A activity, hire “top talent”, accelerate its global network expansion, and drive product development.
Founded in 2016 and co-headquartered in San Francisco and Singapore, Nium claims to have achieved strong revenue growth in 2023 – up more than 50% compared to 2022 – attributing its success to the expansion of its licence portfolio.
The firm currently holds regulatory licences in more than 40 countries, with recent approvals from regulators in Japan and New Zealand.
Prajit Nanu, founder and CEO at Nium, describes the new funding as a “vote of confidence” in the firm’s growth ambitions, as the company focuses on serving the B2B payment needs of Software-as-a-Service (SaaS) platforms, marketplaces, and the travel sector, “for whom payments are mission critical”.
Furthermore, in a recent CNBC interview, Nanu says that despite the reduced valuation from the latest round, he is still confident that Nium will proceed with plans for an IPO within the next 18 months, aiming to go public in the third or fourth quarter of 2025.
Nium has been strengthening its leadership team this year, appointing Alexandra Johnson, former head of new product development and innovation of Bank of America, as chief payments officer; Anton Pasiechnikov as VP of finance; and Rissy Ruddy as the firm’s new chief human resources officer.
