Singapore-based Nium B2B payments platform, and a customer of the Ripple distributed ledger tech provider, has announced the end of the funding round in which it managed to rake in more than $200 million, Reuters has reported.
This has allowed the company’s value to surpass $1 billion and made it a “unicorn”. Nium plans to spend the newly gained funds to further expand in the US and Latin America, according to a company rep.
Nium has been operating in the fintech market since 2014. It provides businesses with tech for emitting their own payment cards, deals with banking and cross-border payments.
Earlier this year, another Ripple client (and ODL partner) of Ripple became a unicorn – Mexico-based crypto exchange Bitso. Last year, Ripple customer, Australia-based Airwallex payments company also grew to become a unicorn.