Fintech Nexus Newsletter (June 5, 2024): Nium raises $50 million at a lower valuation
Nium, a real-time payments infrastructure company, has closed its $50 million Series E at a $1.4 billion valuation. That is 30% below the valuation from its last funding round in 2022.
Speaking with CNBC at Money2020 Europe, CEO Prajit Nanu said the company is still on target for a IPO and is targeting some time in the next 18 months.
The fintech funding winter is far from over but raising at a 30% reduced valuation from the heady days of 2022 is quite respectable.
Fintech infrastructure continues to be a popular vertical for venture capital dollars but we are seeing more realistic valuations today.
Featured
> Fintech firm Nium cuts valuation by 30% in new funding round, eyes 2025 IPO
By Ryan Browne
Despite the lower valuation, Nium is confident it can go public in the next 18 months and is eyeing late 2025 for its stock market debut.
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