FinTech Unicorn Nium Opens New Office In HK’s Kowloon Tong
HONG KONG – Nium, a company that provides cross-border payment services, is opening a new office within the flagship FinTech hub at InnoCentre in Kowloon Tong, reported IBSintelligence on Monday afternoon (1 November, SGT).
Formerly known as Instarem, the Temasek-backed multinational fintech unicorn has agreed to take up space at the commercial property owned by Hong Kong Science and Technology Parks Corporation (HKSTP).
Notably, Nium first ventured into Hong Kong in 2016, and its growing team will join other fast-rising fintech companies at InnoCentre. At present, the firm has several regulatory licenses and offices around the globe, including in the UK, the US, India, Malaysia, Australia, Hong Kong, and Singapore.
The payments processing startup closed its Series D funding round in July 2021, pushing its valuation to more than US$1 billion. The latest funding round lets Nium to expedite its regional growth, with HKSTP selected as its partner for the next stage of its growth. The new financing will support its rapid global expansion, with the Guangdong-Hong Kong-Macao Bay Area (Greater Bay Area or GBA) targeted as a major growth area.
“Today we welcome Nium, the world’s first global B2B payments unicorn from Southeast Asia to the HKSTP ecosystem. The addition of such a world-class leader is a sign of strength for Hong Kong’s thriving Fintech scene, and proof of the city’s allure as a global Fintech hub,” said HKSTP’s Chief Executive Albert Wong.
Nium’s Head of North Asia, Ivy Lun, remarked that the “new Hong Kong operation is a major step in our North Asia growth journey, with HKSTP’s extensive Fintech expertise and unmatched network, we aim to become one of the key players in the Hong Kong Fintech ecosystem.”
“We want to give them access to money with simplicity and speed, with Hong Kong as the ideal gateway to the huge market opportunity in the GBA and North Asia.”
Furthermore, the cross-border payment processor plans to tap Hong Kong’s status as a regulatory leader, global financial centre, a transportation and trade centre, as well as a world-class international I&T hub to drive its regional expansion plans.
