The funding will be used to expand it’s payments network infrastructure, drive innovative product development, attract top industry talent, and acquire strategic technologies and companies. Total money raised by the company to date, including this Series D, stands at nearly US$300 million.

Nium is a next-generation financial services platform  that enables companies around the world to unlock new revenue opportunities and improve cash flow economics.

Nium is a leader in its geographical and payment service breadth, owning licenses in the world’s largest and fastest-growing economies. The modular platform allows banks, payment providers, travel companies, and other businesses to collect and disburse funds in local currencies to over 100 countries, plus issue physical and virtual cards globally. Its proprietary set of APIs embeds financial services and can bring to life multiple B2B and B2C use cases in a matter of weeks.

Nium has established its platform as the preferred connection to the global payments infrastructure. Serving hundreds of enterprise clients, and with plans to onboard thousands more, Nium will use the Series D funds to expand its technical infrastructure and add new embedded FinTech services. Through a single API, Nium provides access to the world’s payment infrastructure, including technologies for pay-outs, pay-ins, card issuance, and banking-as-a-service.

Nium’s business has significantly scaled in the past year. Nium processes US$8 billion in payments annually. It has issued more than 30 million virtual cards to date. Revenues grew by more than 280 percent year-over-year. With revenues split almost equally across EMEA and APAC, Nium will use funds from this round to accelerate growth in the United States and Latin America.

According to IBS Intelligence