Nium CEO and co-founder Prajit Nanu / Photo credit: Nium
Singapore-based payments firm Nium grew its net revenue 2.7x to US$82 million in 2022, the company said in a statement.
Looking forward, the firm plans to continue to invest in more M&A opportunities, expand to new markets, and accelerate product innovation.
Founded by Prajit Nanu, Michael Bermingham, and Pratik Gandhi in 2014, Nium offers cross-border payments, payroll services, and corporate spending platforms. The firm says it issued 30 million cards for its offerings last year.
In the same period, it also launched Nium Airline Payments, its closed-loop system for travel payments.
Nium has obtained regulatory licenses to operate in 11 global markets. In 2022, it expanded to Malaysia and Japan as well as opened new offices in San Francisco, Amsterdam, India, and Singapore.
The fintech startup has made a series of acquisitions in the past few years to fuel its growth. In 2021, the firm acquired London-based Ixaris and Wirecard Forex India. The following year, it bought up Singapore-based SoCash.
In 2022, Nium raised additional capital from investors such as NewView Capital and Moore Capital at a US$2 billion valuation. It was also reported earlier this year that the company looks to go public in the US by the second half of 2025.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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