Nium, the global B2B payments platform announced, on July 27, that it has concluded its series D funding by raising some US$200 million ($271.9 million).
The round was led by US-based high-growth tech investor Riverwood Capital. Other investors in the round include Temasek Holdings, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment and other notable angel investors including Arjun Sethi, co-founder of Tribe Capital and DoorDash executive Gokul Rajaram.
This makes Nium’s current valuation at US$1 billion, making it the first B2B payments unicorn in Southeast Asia.
The total funds raised by Nium to date – including this round’s funding – stands at nearly US$300 million.
The funding will be used to expand Nium’s payments network infrastructure, drive innovative product development, among other things.
Nium now processes around US$8 billion in payment annually. It has issued over 30 million virtual cards to date.
See also: Klook concludes US$425 mil series D funding with SoftBank-led round
“We started Nium with the humble goal of taking out regional complexity in cross-border payments,” says 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.”
“Prajit and the incredibly talented team at Nium have redefined payments for the modern era with an infrastructure that finally makes it easy for companies to embed financial services into business and banking applications,” says Francisco Alvarez-Demalde, co-founding partner and managing partner, Riverwood Capital. “We could not be more excited about this partnership and look forward to seeing Nium continue to set the standard for how global payments are delivered.”
“Nium has built an extremely rare global footprint of licensed infrastructure that brings the world closer to global real time gross settlement,” adds 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.”
Financial Technology Partners (FT Partners) served as exclusive strategic and financial advisor to Nium on its Series D.