Singapore payments company Nium is pushing back its plans for an initial public offering in the US by more than a year, in a bid to focus on shoring up its team and growing revenue, Bloomberg reported on Monday.

Nium, now valued at $1.4 billion, will be ready to go public by the end of 2026, Co-Founder and Chief Executive Officer Prajit Nanu said in an interview with Bloomberg.

The company had previously targeted the second quarter of 2025. Nanu attributed the delay to a long search for a finance chief, saying a new leadership now in place will allow it to focus on IPO preparation.

Nium helps companies handle cross-border payments. The company, whose backers include Singapore sovereign wealth fund GIC, increased revenue by about 50 per cent last year to $120 million and is now focusing on expanding in regions including the UK and Latin America, Nanu said.

“We started looking for a CFO a year back – it’s just been a really painful process,” Nanu said.

Nium announced last Friday the appointment of Andre Mancl as Chief Financial Officer. He will oversee all financial strategies for the company and will lead Nium’s global finance organization, including planning, treasury, tax, reporting, corporate development, and investor relations. He will be integral in helping Nium deliver profitable growth and efficiency at scale, while creating value for all Nium shareholders

Philip Doyle, meanwhile, will join as Chief Compliance Officer. He will lead Nium’s global risk and compliance programs, ensuring both evolve and grow as regulatory expectations heighten. Both executives will report to Prajit Nanu, Founder and CEO of Nium, and will join the company’s Executive Committee, according to its website.

Nium’s valuation, a 30 per cent discount to its previous market value, came on the back of a $50 million fundraising round in June that was led by Brunei’s sovereign wealth fund, Nanu said.

Earlier in June, Nium announced it has raised $50 million in a Series E funding round. Nium said then it will use the funds to further accelerate its growth plans in the business to business (B2B) payments market, which is projected to reach $175 trillion by 2030, including fueling global network expansion, accelerating product innovation, hiring top talent, and pursuing merger and acquisition (M&A) activity.

The company, which expanded rapidly by buying London-based Ixaris, Singapore’s SoCash as well as Wirecard Forex India over the past few years, expects to increase net revenue to $200 million next year, Nanu said.

“We raised at $2 billion when the public market was crazy,” Nanu was quoted as saying. “Now the public markets are not crazy anymore.”

Nium, whose backers also include GIC’s sister firm Temasek Holdings and California-based Riverwood Capital, is looking to snap up one to two payments startups worth about $40 million to $50 million by the end of the year and has about $100 million in cash to fund the purchases, Nanu said.

Nium’s payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets, its Linkedin page showed.

Nium’s card issuance business is already available in 34 countries. Nium holds regulatory licences and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.

Today, Nium has about 950 employees across more than 25 offices worldwide.

Featured photo credits: Nium’s X profile

Singapore’s Nium raises $50M in Series E round to expand real-time payments global infrastructure