According to Odaily, fintech startup Nium has successfully raised $50 million in new funding and plans to go public within the next 18 months. The funding 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 funding, Nium's valuation was set at $1.4 billion, marking a 30% decrease from its $2 billion valuation during its 2022 funding round. The company's decision to go public comes as part of its strategic growth plan, aiming to expand its financial services and strengthen its market position.
The details about the IPO, including the exact timeline and the exchange where the company plans to list, have not been disclosed yet. The new funding will be used to fuel Nium's growth and expansion plans, as well as to enhance its product offerings in the fintech space.