Fintech startup Nium taps into North Asia market by expanding footprint in HK

Singaporean fintech company Nium has expanded its footprint in Hong Kong by opening an office at Hong Kong Science and Technology Parks Corporation's (HKSTP) InnoCentre, tapping into the opportunities in the city, the Greater Bay Area and even North Asia. 

The expansion can help Nium grow its application programming interface (API)-based payments services in the region, connecting consumers, corporations and financial institutions to the world’s payment infrastructure through a single API for international transfers. The Temasek-backed fintech startup closed its Series D funding round in July of this year, with its valuation amounting to over US$1 billion. This round of funding enabled Nium to accelerate its regional growth, supporting its global expansion with Hong Kong and the Greater Bay Area as major growth opportunities.

The company currently holds several regulatory licenses and offices around the world, including in Singapore, Hong Kong, Australia, Malaysia, India, the US, and the UK.

"Our mission is to provide individuals and businesses with one connection to the world of payments. 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 Greater Bay Area and North Asia," said Ivy Lun, head of North Asia, Nium. 

She added, “Our 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."

HKSTP said it had connected Nium with a number of fintech API players in Hong Kong to accelerate service development and business growth, while Nium can access HKSTP fintech ecosystem of regulatory technology, as well as fintech and API innovation. 

"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. Growing adoption of API-driven solutions among Hong Kong’s financial institutions are fueling rapid development of fintech startups, and igniting growth for next-generation financial technologies into the Greater Bay Area and beyond," said Albert Wong, CEO, HKSTP. 

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