[Updated] SG's Nium raises $78m in Series D funding from Riverwood Capital, Vertex Growth, others

Singapore-based cross-border payments firm Nium has bagged about $78 million in Series D funding from Riverwood Capital Partners, Vertex Growth and other investors this month, according to regulatory filings. Nium is issuing 93,402 Series D preference shares as part of the round at about $860.34 apiece, shows a recent filing with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). Menlo Park-based private equity firm Riverwood Capital Partners contributed nearly $70 million to the latest round via three funds, representing the bulk of the fundraising. Existing investor Beacon VC, the corporate venture capital arm of Thailand’s Kasikornbank, is expected to inject an additional $2.26 million as part of the Series D round. Prajit Nanu, its chief executive and co-founder, has previously shared plans on social media to relocate to San Francisco, which will see the firm further build its presence in the US market.