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Prajit Nanu, co-founder and CEO, Nium
July 27, 2021
Singapore-based cross-border payments firm Nium has raised over $200 million in a Series D funding valuing the firm at over $1 billion, making it Southeast Asia’s first B2B payments unicorn, said the firm in a statement.
This marks the second close of its Series D, which DealStreetAsia first reported earlier this month in which Nium raised about $78 million from US-based growth investor Riverwood Capital Partners, Vertex Growth, and other investors.
According to Nium, the latest Series D round was led by Riverwood Capital Partners, and joined by Temasek, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment, and other notable angel investors. Names investors include DoorDash executive, Gokul Rajaram; chief product officer at FIS, Vicky Bindra; and co-founder of Tribe Capital, Arjun Sethi.
BOCOM International, a unit of Hong Kong-listed Bank of Communications, and venture capital firm
Cyberport Macro Fund (CMF).
Tongcheng Life, a Chinese online community group-buying platform backed by
Bertelsmann Asia Investments, has filed for bankruptcy just three years after its inception in August 2018. The startup, which secured an investment of $200 million last June, failed to stay afloat in an increasingly competitive market fuelled by heavy subsidies.
All the deals announced in the region are captured in our deal monitor.
Fundraising by investors continues unabated
Malaysian private equity firm
Creador has made the first close of its fifth fund at $500 million, DealStreetAsia has learnt. The fund is on track to make its final close by the end of this year with a corpus of $680 million.
Taiwan’s Cathay Life commits $105m to Vertex Growth II, Ardian fund
Taipei City, Taiwan. Photo: Thomas Tucker/Unsplash Premium
Cathay Life Insurance, the insurance subsidiary of Taiwanese conglomerate Cathay Financial Holdings, has agreed to commit a total of $105 million to Vertex Growth II and a vehicle of French PE firm Ardian, according to stock exchange filings.
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