Visa and BRI join in fintech startup Nium's latest funding round

The startup aims to focus on product development and acquisitions.

Singapore-based fintech platform Nium raised an undisclosed equity round, which included new investors Visa and Bank Rakyat Indonesia’s (BRI) corporate venture arm BRI Ventures on-board, an announcement revealed.

Nium will utilise the funds to further build out its payment infrastructure offering that includes outreach to consumers, SMEs, large enterprises as well as banks and financial institutions. The newly raised corpus will be largely directed towards product development and tuck-in acquisitions that compress time to market.

For the latter, Nium will focus on vertical expertise in markets like Europe, India, the UK and the US. It currently operates its ‘Send, Spend and Receive’ business in over 90 countries, 65 in real-time, and in 63 currencies.