Nium, which claims to be the leader in real-time global payments, recently announced the opening of its new headquarters in Singapore.
The ceremony was officiated by Mr. Heng Swee Keat, Deputy Prime Minister of Singapore.
The new facility, located strategically at Capital Tower in the heart of Singapore’s Central Business District, “has been purpose-built for modern work, featuring collaborative workspaces and employee-centric amenities.”
The new headquarters is Nium’s strategic hub “for serving clients across Asia Pacific, the MENA Region.” Co-Founder and COO at Nium, Mr. Pratik Gandhi, will “continue to be based out of Singapore.”
The headquarters will be “overseen by Mr. Gandhi and Mr. Anupam Pahuja, who joined Nium recently as its Executive Vice President and General Manager for Asia Pacific, the Middle East, and [other regions].”
His experience scaling global companies, “including PayPal, will help continue Nium’s strong momentum after a year in which it grew net revenue globally by more than 2.5X (from 2021 to 2022).”
With this new opening, Nium is reaffirming its commitment “to building in Singapore and is introducing initiatives to serve the regional fintech community at large.”
It will partner with the public and private sector “to establish a centre of excellence in Singapore for the hiring, training, mentoring, and developing of ‘BizTech’ talent – a new job category that serves to recognise the growing importance of both technical proficiency and business acumen.”
Secondly, Nium says that it is “expanding Bolt, its global fintech accelerator. Bolt provides startup founders with access to facilities, funding, mentoring, and technology to establish and grow their business ideas in the fintech space.”
The program, founded in Singapore, “will be extended to San Francisco, California, and will serve Singaporean companies looking to establish a foothold in the United States of America.”
Prajit Nanu, Co-Founder and CEO at Nium, said:
“When I started Nium, I had big dreams for what it could be – none of which would have been possible without the support of the government, investors, and clients that are part of the thriving fintech community in Singapore. This headquarters will be home to our growing regional team and the door will always remain open for entrepreneurs looking to solve the next set of global challenges with innovation.”
Nium’s selection of Singapore for its headquarters is “a resounding testament to the flourishing fintech landscape within the country.”
With its supportive economic policies, “access to top talent, and strategic location, Singapore provides the perfect launchpad for Nium’s innovative solutions.”
Managing Director and Chief Operating Officer at Enterprise Singapore, Mr. Jeffrey Siow, added:
“It has been exciting to see Nium, a home-grown fintech company, grow from strength-to-strength in the last decade. The opening of Nium’s new headquarters in Singapore is a testament of their continued commitment to Singapore. We look forward to continue partnering with Nium as they scale up and extend their reach globally.”
The new Nium Co-Headquarters is “located at 168 Robinson Road, Capital Tower, #18-03, Singapore 068912.”
As covered, Nium was founded on the mission “to build the global payments infrastructure of tomorrow, today.”
With the onset of the on-demand economy, its single platform for global payments and card issuing is shaping how banks, fintechs, and businesses everywhere “to disburse and collect funds instantly across borders.”
Its payout network supports 100 currencies and spans 190+ countries, 100 of which are in real-time.”
Funds can be “disbursed to accounts, wallets, and cards and collected locally in 35 markets.
Nium’s growing card issuance business is already “available in 34 countries.”
Nium holds regulatory licenses and authorizations in more than 40 countries, “enabling seamless onboarding, rapid integration, and compliance – independent of geography.”
The company is now “co-headquartered in San Francisco and Singapore, with regional offices in over 20+ major cities.”
As reported by Bloomberg, Nium Pte now intends to break even in time for a US initial public offering (IPO) within the next couple years, which is considered to be a positive development for Southeast Asia’s startup sector.
Nium, valued at around $2 billion, is getting ready to go public in the United States by the second quarter of 2025, co-founder and CEO Prajit Nanu revealed during an interview in Singapore.
Nium (which in some ways similar to Stripe) assists firms with handling payments. The firm claims it has been able to more than double its revenue to $82 million this past year.
The Fintech firm, which expanded operations by acquiring London’s Ixaris, Singapore’s SoCash and Wirecard Forex India Pvt, is now planning to break even within the next year.
Nanu stated:
“We should be ready for an IPO by the end of next year, and then start looking at how the market is in 2025. No one can time the market, but the focus for us over the next 18 months is to be fully prepared.”
Nium investors/backers reportedly include Singapore sovereign wealth fund GIC Pte, its sister firm Temasek Holdings Pte and Riverwood Capital LLC.
The company confirmed that it would be on the lookout for other strategic acquisitions in markets such as Latin America.