Nium, a $2 billion digital payments start-up based out of Singapore, has big plans for its European business.
The company, whose software helps businesses manage flows of money across borders, is in talks to make an acquisition worth up to $400 million to drive an expansion in the continent, CEO and co-founder Prajit Nanu told CNBC.
„The firm is in discussions to buy an enterprise-focused payments venture worth “anything between $20 million to $400 million,” he added.
Out of its 1,000-person global workforce, Nium currently has about 150 employees based in Europe, and plans to hire an additional 100 over the next 12 months, Nanu said.
The company is on track to generate around $150 million in annual global revenues this year, with between $80 million and $90 million of sales coming from Europe, according to Nium’s CEO.
Last month, the company made another big move by adding crypto payment acceptance to suite of embedded crypto services for global businesses.
Crypto Accept, is an API-based solution that enables global businesses to accept crypto payments. Nium Crypto Accept supports Bitcoin (BTC) and Ethereum (ETH) payments at launch, with plans for more currencies in 2023. Online merchants can accept payments in crypto with zero price volatility or risk. Settlement happens next business day in USD or another leading fiat currency – directly to their bank account.
Nium is the global platform for modern money movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe. Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 85 of which in real time. Funds can be received in 27 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium’s growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: