Nium, a Singapore-based real-time cross-border payments company, announced that it raised USD50m in a Series E funding round, valuing the company at USD1.4bn post-money. The round was led by a Southeast Asian sovereign wealth fund. The funds will be used to accelerate growth in the B2B payments market, expected to reach USD175tr by 2030, by expanding the global network, accelerating product innovation, hiring, and pursuing M&A activities. Nium’s CEO, Prajit Nanu, highlighted the investment as a vote of confidence in Nium’s focus on serving markets where payments are critical, like SaaS platforms and financial institutions. The company, holding licences in over 40 countries, reported a 50% revenue growth in 2023 compared to 2022, attributing it to successful product development and recent client acquisitions.