B2B payments platform Nium has raised over $200 million in funding, valuing the firm at over $1 billion.
Nium's Series D funding round was led by U.S.-based high-growth tech investor Riverwood Capital, and joined by Temasek, Visa, Vertex Ventures, Atinum, Beacon Venture Capital, Rocket Capital Investment, and other notable angel investors, according to a statement on Tuesday.
The funding will be used to expand Nium’s payments network infrastructure, drive innovative product development, attract top industry talent, and acquire strategic technologies and companies, the statement said.
Strong Growth
Nium's platform gives clients access to global payments infrastructure, including technologies for pay-outs, pay-ins, card issuance, and banking-as-a-service. It currently serves several hundred enterprise clients and plans to onboard «thousands» more.
The company processes $8 billion in payments annually and has issued more than 30 million virtual cards to date, and recorded 280 percent revenue growth year-on-year.
the funding also gives Nium the possibility of exploring market opportunities, particularly embedded financial services, cross-border transfers, and card payments.
