Nium

Nium is a Singapore-headquartered cross-border payments company, initially founded by Prajit Nanu and Michael Bermingham and launched in 2014 as a consumer-remittance platform called Instarem. By 2017 the company had expanded into a cross-border payments platform for business users, including banks, and had opened offices in the UK, Hong Kong, and Malaysia while acquiring Electronic Money Transfer licenses in Malaysia and the EU. In 2018 the company extended real-time delivery of funds to more than 50 countries and launched a card-issuing platform, and in 2019 it rebranded from Instarem to Nium, with Instarem continuing to operate as a wholly owned consumer remittance service.

Nium's platform now offers cross-border payouts, multi-currency accounts, and physical and virtual card issuance, and according to its own site is co-headquartered in San Francisco and Singapore, with additional offices in London, Valletta, Amsterdam, Vilnius, Mumbai, and Tokyo. The company is led by co-founder and CEO Prajit Nanu; co-founder Michael Bermingham has held the COO role. According to Wikipedia, Pratik Gandhi was elevated to co-founder in 2021 but left the company in October 2023, around the time Nium's Chief Product Officer also departed and the company announced a layoff of over 10% of its global staff.

By July 2021, Nium had raised a Series D round of $200 million, after which it was characterized as a unicorn; its valuation was estimated at $2 billion as of February 2022. In September 2024, Nium said it had revised its planned US IPO timeline, shifting the target from the second quarter of 2025 to the end of 2026, citing a need to strengthen its leadership team ahead of the listing.