General

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.


> 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.


From Fintech Nexus

> LoanPro/Visa DPS integration provides unique credit personalization opportunities

By Tony Zerucha

LoanPro’s credit platform integration with Visa DPS helps brands tackle shrinking interchange fees while providing unique personalization.


Podcast

Anthony Sharett, President of Pathward, on how to do banking-as-a-service right

While the BaaS space is having a moment right now, there are some banks, like Pathward, that continue to serve their many…

Listen Now


Webinar

Innovations for Smarter and Quicker Lending Decisions

Jun 6, 12pm EDT

The borrower of 2024 is more demanding than ever before. They want instant loan approvals and a frictionless checkout process….

Register Now


Also Making News

  • USA: Expense software startup Ramp launches new corporate Travel marketplace powered by Priceline
    Corporate travel and entertainment (T&E) expenses currently account for 20% of annual purchases made on Ramp, a figure expected to rise.
  • USA: Is the CFPB reining in buy now, pay later loans too soon?
    A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry’s growth, experts say.
  • USA: Dave CEO: Cash Flow-Based Underwriting Critical to Helping Paycheck-to-Paycheck Consumer
    It’s been quite a year so far for FinTechs in general and neobanks in particular. However, Jason Wilk, CEO of digital banking app Dave, doesn’t view the volatility rocking the FinTech sector in the wake of the Synapse bankruptcy as a long-lived seismic shift. “I think it’s a one off.”
  • USA: U.S. Bank taps AI to create audience models for national campaign
    “The Power of Us” used Supernatural AI’s tech to create avatars of the bank’s core target groups and test the baseline idea and initial creative.
  • Europe: Europe’s fintech funding slowdown dampens mood at Amsterdam event
    Europe’s fintech industry faces an uncertain future after funding squeezes over the past two years brought lofty pandemic-era ambitions and valuations down to earth, but some are optimistic that lower interest rates will spur a recovery.
  • USA: CFPB: Lenders Must Stop Hiding Unlawful Terms in Fine Print
    The Consumer Financial Protection Bureau is warning businesses against hiding “unlawful or unenforceable terms” in contracts’ fine prints.
  • UK: Goldman-backed Starling says no plans to pursue EU bank license, expansion to come from software
    Starling will pursue international expansion via its software business Engine rather than via banking licenses, incoming CEO Raman Bhatia said.

To sponsor our newsletters and reach 180,000 fintech enthusiasts with your message, contact us here.

Related posts

Corserv and Bank of Missouri partner with Visa to launch credit card offering for community banks

admin

Should I Pay Off Debt or Save for a Down Payment?

admin

La Casa Blanca alista recomendaciones para reducir impacto ambiental de minería de BTC

admin