Cross-border B2B payments operator Nium has joined the unicorn club after raising $200 million in a Series D funding round led by Riverwood Capital
Temasek, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment, and angels including DoorDash executive Gokul Rajaram joined the round for Singapore-based Nium.
Through a single API, Nium provides access to the world's payment infrastructure, including technologies for pay-outs, pay-ins, card issuance, and banking-as-a-service. Once connected, customers can send funds to more than 100 countries (most in real-time), pay out in more than 60 currencies, accept funds in seven currencies, and issue cards in more than 40 countries.
The firm serves hundreds of enterprise clients, processing $8 billion in payments annually and has seen revenues grew by more than 280% year-over-year.
With the new funding in place, Nium plans to move beyond its strongholds of Apac and Emea and into the US and Latin America. It also has plans to take on India's booming payments market thanks to the recent acquisition of Wirecard's assets in the country.
"We started Nium with the humble goal of taking out regional complexity in cross-border payments," says Prajit Nanu, CEO, Nium. "Today, our sights are set higher. We believe we can be a global catalyst to increase global commerce, removing some of the payments friction which has traditionally held businesses back."