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According to Odaily, fintech startup Nium has raised $50 million in new funding and plans to go public in the next 18 months. The financing round was led by an undisclosed Southeast Asian sovereign wealth fund, with additional support from venture capital firms BOND, NewView Capital, and Tribe Capital.
In this round of financing, Nium's valuation is set at $1.4 billion, representing a 30% decline from its $2 billion valuation during the 2022 funding round. The company's decision to go public comes as part of its strategic growth plan, which aims to expand its financial services and strengthen its position in the market.
Details of the IPO, including the exact timeline and which stock exchange the company plans to list, have not yet been revealed. The new funding will be used to support Nium's growth and expansion plans, as well as enhance its fintech product offerings.