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.
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