In its ninth annual Fintech 50 listing, Forbes has spotlighted its key contributors to the fintech sector, and Singapore-headquartered funds agency Nium has been distinguished as the only Asian entity to characteristic this 12 months.
Initially launched in 2014 beneath the title InstaReM, Nium has advanced into a major world fintech presence. With a present valuation of US$2 billion, the agency is one of many few fintech unicorns from Singapore and oversees transactions amounting to greater than US$8 billion yearly for quite a lot of banks and fee establishments, counting Rippling, Payoneer, and Currencycloud amongst its B2B clientele.
Prajit Nanu
“It’s an honor to be among the many world’s greatest once more on the Forbes Fintech 50 listing. We’ve been working onerous to double down on assembly our clients’ wants with new merchandise, new verticals, and regional expansions. Our purpose for this 12 months is to proceed on the trail to ship the worldwide funds infrastructure of tomorrow, at the moment,”
Prajit Nanu, Co-founder and CEO at Nium, instructed Fintech Information Singapore.
The enlargement of Nium past its Singaporean origins to set up a presence within the UK and the US has been instrumental in its recognition by Forbes. To qualify, firms had been required to both be based mostly within the US or have substantial operations there, and never be part of a public firm.
This comes towards a backdrop of appreciable challenges throughout the fintech trade, together with a decline in enterprise capital funding from US$141 billion in 2021 to US$39 billion in 2023, as reported by CB Insights, alongside a normal downturn in valuations and a rise in trade layoffs.
Nium’s inclusion within the Forbes Fintech 50 listing displays not solely its achievements and progress throughout the world fintech area but additionally the sector’s resilience within the face of financial challenges.
Featured picture credit score: Edited from Freepik
