NIUM, formerly known as InstaReM, is an advanced global payments platform redefining how consumers and businesses can send, spend and receive funds around the world.
NIUM enables companies around the world to unlock new revenue opportunities and improve cash flow economics.
NIUM was founded in 2014 by Prajit Nanu and Michael Bermingham. The company is based in Singapore, with offices in Australia, Malaysia, Hong Kong, India, USA, Canada and EU.
NIUM's modular platform allows banks, payment providers, travel companies, and other businesses to collect and disburse funds in local currencies to over 100 countries, plus issue physical and virtual cards globally.
NIUM's proprietary set of APIs embeds financial services and can bring to life multiple B2B and B2C use cases in a matter of weeks. Its remittance-as-a-service (RaaS) capabilities serve millions of people across 11 licensed jurisdictions. Japan and Indonesia are the newest additions.
Nium serves over 130 million customers and enables platforms to provide access to financial services to over 3 billion people across the world.
NIUM is backed by Riverwood Capital, Temasek, Vertex Growth Fund, Visa, BRI Ventures, Global Founders Capital, Moore Strategic Ventures, Fullerton Financial Holdings, GSR ventures, and others. The company raised an additional $5M on Mar 18, 2022. This is an extension of their previous $200M Series D financing, bringing the round total to $205M. The additional investment brings NIUM's total funding to $285M to date. NIUM was valued at over $1B from the 1st tranche of Series D raised in Jul 2021.