Visa continues to spread the love, this time backing global fintech platform Nium.
Singapore based Nium has just closed its latest funding round and as well as Visa coming in as a new investor, BRI Ventures (the Corporate Venture arm of Bank BRI of Indonesia) also joined in the fun. Existing investors got in on the action as well.
Nium currently operates its ‘Send, Spend and Receive business’ in over 90 countries, 65 in real-time and in 63 currencies.
It claims to have carved a niche for itself and its diversified suite of offerings.
Prajit Nanu, CEO and co-founder of Nium, was overjoyed: “I am thrilled to announce that we have closed another round of funding and added two more prestigious investors to our cap table. Visa and BRI Ventures’ participation is a vote of confidence for our business model and its resilience despite the climate.”
The new money, although a figure was not mentioned, will be used by Nium to further build out its diversified payment infrastructure offering that includes outreach to consumers, SMEs, large enterprises, banks and financial institutions.
Nanu added: “We are interested in tech infrastructure players with capabilities in issuance, local payment rails ecetara, which complement our own and can help us ship faster in markets we are bullish on.”
The back-slapping was joined in by Chris Clark, Regional President, Asia Pacific, Visa: “Nium and Visa’s collaboration began in early 2019 when Nium joined the Visa Fintech Fast Track program in Asia Pacific. We’ve worked together on new commerce experiences like instant remittances for consumers and businesses in Southeast Asia.
“We are excited to extend our partnership with Nium by investing in their business. Working with fintechs like Nium is a key part of Visa’s strategy to enable payments for anyone, anywhere, on any network.”
Not to be outdone was Nicko Widjaja, Chief Executive Officer of BRI Ventures: “BRI Ventures always look to support developments in the banking and financial industry, especially for partners looking to provide digital financial care to customers in Indonesia. We have been working closely with Nium since their InstaReM days when they were processing consumer remittance, and are excited to witness their growth as they expand their service offerings to include financial institutions and corporates. The potential of financial technology is limitless and we forward look to supporting Nium on their path of growth as they expand their presence into Indonesia and beyond.”
Now we need to get invited to the party!
