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

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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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