Nium is the Sole Asian Fintech on the Latest Forbes Fintech 50 List

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 real Asian entity to characteristic this 12 months.

Initially launched in 2014 underneath the title InstaReM, Nium has developed into a big international fintech presence. With a present valuation of US$2 billion, the agency is likely one of the 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 exhausting to double down on assembly our prospects’ 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, immediately,”

Prajit Nanu, Co-founder and CEO at Nium, advised Fintech Information Singapore.

The growth of Nium past its Singaporean origins to determine a presence within the UK and the US has been instrumental in its recognition by Forbes. To qualify, firms have 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 in opposition to a backdrop of appreciable challenges throughout the fintech business, 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 common downturn in valuations and a rise in business layoffs.

Nium’s inclusion within the Forbes Fintech 50 listing displays not solely its achievements and progress throughout the international fintech area but additionally the sector’s resilience within the face of financial challenges.

Featured picture credit score: Edited from Freepik