Real-time payments company Nium has opened a new European headquarters in London as it continues to accelerate its business expansion internationally.
The new office reaffirms Nium’s commitment to Europe and to the UK, where it has already had a presence for a couple of years. The Singapore-based fintech, which is disrupting the way businesses move money around the world, has two other offices in Europe – one in Amsterdam and the other in Malta – as well as local operations in Germany, France and Israel.
Over the last three years, it has been investing in its European business through M&As, talent acquisition and product innovation. In 2021, it acquired travel payments company Ixaris and recently hired ex-Payoneer SVP Manuel Sandhofer as General Manager to run and expand regional operations. Now the new London office will provide a base from which Nium can continue serving European customers, following strong market position and increasing demand for the firm’s services.
At Money20/20 Europe in Amsterdam, Sandhofer told FinTech Magazine about the importance of making small efficiencies in today’s economy: “We are serving enterprises, the businesses that are helping small-and-medium-sized businesses to get access to financial systems. If you look at the past, you will see those smaller businesses didn’t have any access to competitive pricing or fast payouts because the legacy payment infrastructure was not providing that. There is now a whole industry helping those businesses, and Nium is helping with the infrastructure to enable those businesses to overcome those challenges.”
Nium proud to open shop in ‘home from home’ London
Sandhofer joined Nium in June, having previously been SVP Sales and Partners at Payoneer – one of Nium’s clients. Amid talk of Nium’s own M&A spree, it is fitting that Sandhofer joined Payoneer through acquisition; he was the co-founder of payment orchestration platform optile, which agreed to be bought out by Payoneer in December 2019.
Speaking about the opening of Nium’s new London office, he adds: “Nium has been present in the UK for several years now. With the support of local regulators, industry bodies and our talented team members, we have built a strong foundation of products, customers and licences. Our new regional headquarters represents our commitment to the UK as the cornerstone of Nium’s long-term growth plans in Europe.”
Prajit Nanu, Founder and CEO at Nium, says: “London is our home away from home. Establishing our European headquarters within [London’s] Square Mile gives Nium invaluable access to a thriving financial services ecosystem that we want to help support and scale. After experiencing growth across APAC and the US, Europe is now our fastest-growing market. This means we are well-positioned to help businesses here unlock opportunities beyond borders, especially those with a focus on emerging markets.”
And Charlotte Crosswell, Chair of Centre for Finance, Innovation and Technology, welcomed the business to the city: “Despite a challenging time for fintech firms, the UK continues to be an attractive location for global businesses looking to drive growth, draw talent, and foster collaboration. Nium’s decision to establish its European headquarters in London will have a significant impact on the UK remaining a global leader for financial innovation, and we look forward to supporting the company in the next phase of its journey.”
Please also take a look at our upcoming virtual event, FinTech LIVE London, coming on 8-9 November 2023.
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