Nium, the Singapore-based business payments firm has announced it has raised more than $200 million in the recent funding round. Riverwood Capital, the tech investor led the financing round. Besides, it has joined the “unicorn” club of start-ups that are valued at around $1 billion and more.
The round also saw participation from Visa Inc, Vertex Ventures, and Singapore state investor Temasek Holdings. So far, Nium had raised nearly $300 million in capital.
The company aims to use the funds to drive product development, purchase innovative technologies and companies, as well as expand its network infrastructure. In fact, the capital can also support in speeding up its growth in the U.S. and Latin America.