Nium, a Singapore-based cross-border payment platform backed by corporates Telkom Indonesia, Ripple and Rocket Internet, is looking to raise $75m to $100m in its series D round, DealStreetAsia reported yesterday.
An undisclosed US-headquartered strategic investor is in negotiations with the company to lead the round, three sources close to the development told DealStreetAsia. It has been in the process of raising money since April this year and intends to close the round by the end of next month.
Founded in 2015 as Instarem, Nium runs a cross-border payment service focused on users in the Asia-Pacific region, allowing users such as financial institutions and small and medium-sized businesses to transfer money across nearly 40 countries.
The company has secured $59m altogether, closing a $41m series C round in March this year that included telecommunications firm Telkom Indonesia’s MDI Ventures unit, blockchain-based financial transfer platform Ripple and e-commerce holding company Rocket Internet.
The round also featured financial services firms SBI and Kasikorn Bank, the latter through its Beacon Venture Capital subsidiary, as well as Vertex Ventures, Atinum Investment and GSR Ventures.
Nium had previously secured $13m from the SBI-backed SBI-FMO Emerging Asia Financial Sector Fund, GSR Ventures, Emerging Asia Financial Sector Fund and existing backers Vertex Ventures, Fullerton Financial Holdings and Global Founders Capital.
