Nium raises US$50M in Series E round led by SEA sovereign fund

It will use the funds to accelerate its growth plans.

Singapore-based cross-border payments company Nium raised US50m in a Series E funding round led by a sovereign wealth fund in Southeast Asia.

Nium's newly added investors, BOND, NewView Capital, and Tribe Capital, joined the funding round.

In an announcement, Nium said it will use the funds to accelerate its growth plans in the B2B payments market, projected to reach US$175t by 2030.

It will also use the funds to fuel global network expansion, accelerate product innovation, hire top talent, and pursue M&A activity.

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