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Deepti Sri · · 1 min readReport: Singapore fintech startup Nium eyes US listing within 2 years
“Fintech company Nium is looking to build its presence in the US as it eyes a public listing in New York in the next 18 to 24 months,” The Business Times reported.
Details:
- The company aims to enter the US market to leverage FedNow, the US government’s instant payment service. According to a statement, Nium co-founder Prajit Nanu will personally be involved in scaling and driving the business in the country.
- With a goal to become the next “Amazon or Microsoft,” Nium said it intends to develop organizational processes and increase hiring.
Context:
- In a statement, the firm said it handled up to US$2.1 billion transactions in the fourth quarter of 2020 and aims to hit US$6 billion in the fourth quarter of this year.
- A major investor in Nium is Vertex Ventures, which sits alongside the fintech firm’s other investors such as Visa, BRI Ventures, Rocket Internet, and GSR Ventures.
Editing by Collin Furtado and Jaclyn Tiu
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