Singapore-based Fintech started has joined the Unicorn club after raising $200 million in funding
A Singapore-based business payments company has entered the club of Unicorns after raising over $200 million in a funding round led by Riverwood Capital.
The latest round and the other rounds received participation from Singapore’s state investor Temasek Holdings, Payments processor Visa Inc. and Venture capital firm Vertex Ventures.
The fintech startup has raised nearly $300 million in capital till now.
The fintech startup Nium is planning to utilize the pooled fund for the expansion of its network, develop better infrastructure, drive product development and purchase new technologies and companies. The raised capital will also be used to capture and grow in the United States and Latin America, the company mentioned.
Established by Prajit Nanu as Instarem in 2014, Nium gives organizations admittance to advancements for giving cards and permitting banking exchanges other than making and getting cross-line instalments. It measures $8 billion every year in instalments and has given in excess of 30 million virtual cards up until now, the organization said, adding that it saw a close to four-crease expansion in year-on-year income.
A fintech company like Nium has seen growth in the past few years and have seen demand
For their products and services as the world is adopting online mode very fastly in the post-covid period.