Singapore payments company Nium Pte aims to break even in time for a US initial public offering within two years, a positive signal for Southeast Asia’s struggling startup ecosystem.
Nium, valued at about $2 billion, is preparing to go public in the US by the second quarter of 2025, co-founder and Chief Executive Officer Prajit Nanu said in an interview in Singapore. Nium, which like larger US peer Stripe Inc. helps companies handle payments, more than doubled its revenue to $82 million last year even as Southeast Asia’s tech and startup industries were hit by rising interest rates and higher levels of inflation.
The company, which expanded rapidly by buying London-based Ixaris, Singapore’s SoCash as well as Wirecard Forex India Pvt over the past two years, expects to break even within 12 months and be profitable before it goes public, Nanu said.
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