Fintech firm Nium cuts valuation by 30% in new funding round, eyes 2025 IPO

CNBC

Financial technology startup Nium told CNBC Wednesday it raised $50 million in a fundraising round was led by an undisclosed Southeast Asian sovereign wealth fund. The round, backed by venture capital firms BOND, NewView Capital, and Tribe Capital, values the company at $1.4 billion — a 30% discount to its previous valuation. Despite the lower valuation, Nium is confident it can go public in the next 18 months and is eyeing the third or fourth quarter of 2025 for its stock market debut. Westend61 | Westend61 | Getty Images

AMSTERDAM, Netherlands — Financial technology startup Nium told CNBC Wednesday it raised $50 million in new funds from investors, and is targeting an initial public offering in the next 18 months.

The fundraising round was led by an undisclosed Southeast Asian sovereign wealth fund and backed by venture capital firms BOND, NewView Capital, and Tribe Capital.

It places Nium’s valuation at $1.4 billion. That marks a 30% discount to its previous valuation of $2 billion, which the firm notched in 2022 when it last raised external venture capital.

Prajit Nanu, Nium’s CEO and founder, said the firm would use the fresh capital to double down on mergers and acquisitions, targeting other growth-stage payment firms.

Nanu said his company’s down round was the result of a broader depression in public market valuations of fintech companies.

Fintechs have seen their stock prices slashed in recent years as a result of macroeconomic pressures, including high inflation and rising interest rates.

“Being realistic, when we raised in early 2022, public markets were killing it,” Nanu said. “The public markets have not been kind to fintech.”

IPO in 18 months

Nanu said that, despite the lower valuation, he is still bullish on the growth story for Nium and is confident the company will go public in the next 18 months, targeting a flotation in the third or fourth quarter of 2025.

He added that valuation isn’t a concern for him and that it won’t matter what value the company prices its shares as markets are volatile by nature.

“Whether you go public at $1 billion, $5 billion, it doesn’t matter. Because the valuation is only when you get bought, or when you go through an IPO,” he said.

He noted the example of Stripe, which raised a $95

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