- Briefing Your roundup of Asian tech and startup news that matter
Miguel Cordon · · 1 min readNium becomes first B2B payments unicorn in SEA after securing $200m in funding
Singapore fintech major Nium has raised over US$200 million in its latest funding round, making it the first global business-to-business (B2B) payments unicorn from Southeast Asia.
More funding details
- Lead investors: US-based Riverwood Capital
- Returning investors: Temasek, Visa, Vertex Ventures, the Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment, and angel investors from DoorDash, FIS, and Tribe Capital
- Stage: Series D
More company updates
- Proceeds from the round, which puts Nium’s current valuation above US$1 billion, will be used to extend its payments network infrastructure, make more hires, and explore strategic acquisitions.
- Nium also looks to use the funds to accelerate its growth in Latin America and the US.
- Earlier this month, Tech in Asia reported that the fintech firm secured US$80.4 million in its ongoing series D round. Nium’s CEO Prajit Nanu said at the time that the company was in the process of closing the round at the end of the month.
- The company said it is currently processing US$8 billion in payments annually, with revenues growing by over 280% year over year.
- In financial year 2020, Nium generated US$16.7 million in revenue, more than 2x of what it logged the year before. It was also able to shave its losses for the first time in the last five years. (Read: Remittance startup Nium shaves losses, more than doubles revenue in 2020)
For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.
Editing by Collin Furtado and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
