Nium Raises over US$200 Million in Series D Funding Led by Riverwood Capital

Nium, a leading B2B financial services technology platform, announced that it has raised over US$200 million in Series D funding led by Riverwood Capital, a U.S.-based high-growth tech investor. Nium's current valuation reaches over US$1 billion, becoming the first B2B payments unicorn from Southeast Asia.  

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According to Nium's news release, the company is going to use the new funding to expand its payments network infrastructure, drive innovative product development, attract top industry talent, and acquire strategic technologies and companies. 

Nium's business has significantly scaled in the past year. Nium processes US$8 billion in payments annually. It has issued more than 30 million virtual cards to date. Revenues grew by more than 280 percent year-over-year. With revenues splitting almost equally across EMEA and APAC, Nium will use funds from this round to accelerate growth in the United States and Latin America. 

"We started Nium with the humble goal of taking out regional complexity in cross-border payments," said Prajit Nanu, Nium's Co-founder and CEO. "Today, our sights are set higher. We believe we can be a global catalyst to increase global commerce, removing some of the payments friction which has traditionally held businesses back. The Nium platform simplifies the B2B payments experience by enabling critical financial services to be easily embedded — helping today's local market players become tomorrow's global giants."

"Nium has built an extremely rare global footprint of licensed infrastructure that brings the world closer to global real time gross settlement," added Alex Porto, Principal, Riverwood Capital. "We believe that Nium is on track to be a central component of the global fabric, providing faster and more democratic money movement and we look forward to supporting their growth in this next phase."