Payments unicorn Nium’s has recorded US$82 million ($109 million) in net revenue in 2022 — the first company in Singapore of its kind to reach the revenue milestone.
Last year, the company focused its development on serving high-growth client use cases in industries such as travel, payroll, spend management, and financial services.
This strategy has allowed Nium to accelerate its growth agenda, including global expansion, organic product innovation, continued hiring and M&A activity.
Financial institutions were Nium’s priority clients last year, as it focused on helping them target new markets with instant bank payouts as well as expand to emerging markets. Its clients in this industry include the likes of Aspire, Mastercard, Rippling, Payoneer, Amadeus and eDreams.
Nium’s issuing product also grew substantially, with over 30 million cards issued just last year. The company allows travel intermediaries and operators to efficiently pay travel suppliers around the world, optimising every transaction for maximum profitability.
Over the past year, Nium raised additional capital at a US$2 billion valuation, adding new investors such as BOND, NewView Capital, Moore Capital and Tribe Capital.
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“Our investors believe in our mission of building the payments infrastructure for on-demand money and our funding has helped us accelerate our growth aspirations. We’re thrilled to have the support of these notable investors and continue to look forward to working closely together to advance our business.” says Nium founder and CEO Prajit Nanu.
Co-headquartered in San Francisco and Singapore, Nium has regional offices in London, Amsterdam, Hong Kong, Mumbai, Bengaluru, and Chennai.
