Nium secures USD 50 million in Series E round

According to Nium’s officials, the investment supports the company’s growth objectives, specifically as it focuses on serving the needs and requirements of marketplaces, Software-as-a-Service (SaaS) platforms, travel, and financial institutions, for whom payments represent a substantial part of their operations. Moreover, Nium’s recent developments underlined the demand for its customer-centric B2B payment solutions as global businesses work on enhancing and modernising their systems to better serve the current landscape.

Furthermore, the company’s data shows that Nium saw significant revenue growth in 2023 compared to 2022, with this being potentially attributed to its focus on its product development roadmap, which delivers capabilities that serve client use cases in industries including travel, payroll, spend management and financial services. Additionally, Nium expanded its licence portfolio, which enables it to conduct business directly in multiple jurisdictions, as well as securing regulatory licences and authorisations in nearly 40 countries. The funding closely follows the expansion of Nium’s platform features and its partnership with Lemonway, with the company aiming to better serve the needs of marketplaces and improve cross-border payments. Also, the company plans to mitigate the challenges that marketplaces with cross-border sellers face when navigating the complexities of compliance regimes, payment preferences, and FX fees.

Representatives also mentioned that the investment underlines their company’s investors' trust in its long-term commitment to developing a payment infrastructure for on-demand money movement, with the capital enabling it to accelerate achieving these plans. Nium is set to continue to closely work with its investors and partners to advance its business and capabilities.

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