About Us

Building the Future of Open Money

Our Story

InstaReM began in 2014 with a vision to simplify the cross-border payments experience for consumers. While continuing to be an expert in consumer remittances, the team behind InstaReM expanded and scaled its offerings to meet the needs of SMEs, Financial Institutions, Enterprises, and even other payment service providers. That expansion included an innovative technology infrastructure that makes sending, spending, and receiving money across borders faster, more transparent, and better integrated with our customers’ lives and business needs. InstaReM is powered by the same platform that we offer our enterprise clients.

That platform is Nium.

Our network is powered by our portfolio of licenses, hard-earned by building trust with financial regulators in over 90 countries. This combination of regulatory and tech assets is unique to Nium and is at the core of our unique value proposition.

Nium’s Evolution

2014

Founded as InstaReM

2015

InstaReM raised initial $500,000 USD in seed capital

Launched Australia operations

2016

Received $5mn USD in Series A funding

Launched Singapore and Hong Kong operations

2017

Received $13mn USD in Series B funding

Launched Malaysia operations

2018

Received $21mn USD in the first close of Series C funding

Launched India, EU, UK and US operations

2019

Received $20mn USD in the final close of Series C funding

Evolved into Nium

Launched Indonesia operations

2020

Visa and BRI Ventures become Nium’s newest investors, joining GSR Ventures and Vertex in latest funding round.

Our Awards

Winner

Oustanding Digital Cross Border Money Transfer Service

ET Net FinTech Awards, 2017

Hong Kong

Winner

Singapore Fintech Award

Singapore Fintech Festival, 2017

Singapore

Winner

Blockchain Innovator Award

Swell By Ripple, 2018

San Francisco

Winner

Fintech Rising Star Award

India FinTech Awards, 2017

Mumbai

In the News

Helping People Send Money Home

May 5, 2020

This is the right time for global regulators to push for transparency in remittance fees: Prajit Nanu

May 2, 2020

Digital Payments Platform InstaReM Launches Cash Payout Option in the Philippines

Apr 24, 2020

Aspire Teams up with Visa and NIUM to Launch Payments Card for Businesses

Apr 8, 2020

Nium Partners with Visa Direct

Nov 12, 2019

InstaReM Rebrands To Nium, Launches Open Money Network

Oct 27, 2019

Our Investors

OUR LEADERSHIP

Prajit Nanu CEO and Co-Founder

Prajit Nanu is the Co-Founder and CEO of Nium, a global financial technology platform that aims to break currency borders by empowering businesses and consumers to send, spend, and receive funds anywhere in the world in a more convenient and transparent way.

Based in the company’s headquarters in Singapore, Prajit is responsible for expanding the company’s geographic reach and establishing Nium as a leading financial technology platform all over the world. He oversees not just Nium’s B2B arm of the business, but also its B2C platform InstaReM, powered by Nium’s technology. Prajit is also responsible for driving innovation in key markets that Nium has offices in, including Australia, Canada, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, United Kingdom, and the United States of America.

Prior to co-founding InstaReM and eventually Nium, Prajit held leadership positions in various global organizations. He was the Global Sales Director at TMF Group, a multinational professional services firm headquartered in Amsterdam, and was the Vice President of Sales and Account Management at WNS Global Services, a business process management company.

Prajit holds a Bachelor’s in Commerce & Economics from the University of Mumbai.