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Nium closes funding round, with investment from Visa and BRI Ventures

Wednesday 6 May 2020 05:14 CET | News

Nium, a global fintech platform, has announced new funding round with participation from Visa and existing investors.

Another new investor to join the fold was BRI Ventures, the Corporate Venture arm of Bank BRI of Indonesia. As part of their own consumer and SME remittance offering (InstaReM) and remittance-as-a-service capabilities, Nium now reaches millions of customers across 10 licensed jurisdictions, with Japan and Indonesia being the latest additions, according to the official press release.

On the enterprise front, they serve clients across six continents. Through a micro-service driven model, Nium addresses payment processes across industries like ecommerce, large corporates, SMEs, payroll disbursement to travel, expenses management etc.

Nium will be using the funds to further build out its payment infrastructure offering. The newly raised corpus will be largely directed towards product development and tuck-in acquisitions that compress time to market. For the latter, Nium will focus on vertical expertise in markets like Europe, India, UK, and US.

Nium and Visa’s collaboration began in early 2019 when Nium joined the Visa Fintech Fast Track program in Asia Pacific. The fintech currently operates its business in over 90 countries, 65 in real-time, and in 63 currencies.

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Keywords: Nium, fintech, funding, remittances, Singapore, payment, Visa, ecommerce, large corporates, SMEs, payroll disbursement, cards, Issuer
Categories: Banking & Fintech | Payments General
Countries: Singapore
This article is part of category

Banking & Fintech