Including the latest round, which also saw participation from Singapore state investor Temasek Holdings, payments processor Visa and venture capital firm Vertex Ventures, Nium said it had raised nearly USD, 300 million in capital so far. Thus, the payments firm has joined the unicorn club of startups valued at more than USD 1 billion.
The company aims to use the funds to expand its network infrastructure, drive product development, and purchase new technologies and companies. Funds raised will also help in speeding up Nium's growth in the US and Latin America, the company said for Reuters.
Launched as Instarem in 2014, Nium gives businesses access to technologies for issuing cards and allowing banking transactions besides making and receiving cross-border payments.
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