DATA VANTAGE | Nium, Tookitaki, and Ampotech in focus
Edition #462, 22nd April 2025
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Dear Reader,
Cross-border payment unicorn Nium has welcomed US-based high-impact entrepreneurship organisation [redacted] as a new shareholder, securing [redacted] in capital through the allotment of preference shares to [redacted], its global co-investment fund.
It remains unclear whether this capital injection is part of Nium’s Series E round or not.
In June 2024, the company was reported to have raised $50 million in a Series E funding round led by an undisclosed sovereign wealth fund–later revealed in its regulatory filings in Singapore as Brunei Investment Agency, the wealth fund of Brunei. As per Nium’s statement, the company is valued at $1.4 billion following the Series E round.
According to DealStreetAsia’s DATA VANTAGE, Temasek Holdings is the largest shareholder in Nium with an 11.14% stake, followed by Vertex Ventures SEA & India with 8.85% and GIC 7.59%.
These figures do not reflect the latest allotment to Endeavor.
Following the Series E funding, Nium has reportedly pushed back its US IPO by over a year to focus on its revenue and team. Initially aiming to go public in Q2 2025, the company has now postponed it to late 2026. The delay happened as Nium struggled to find a new chief financial officer, a post that has since been filled by former Credit Suisse investment banking executive Andre Mancl.
According to Nium CEO Prajit Nanu, the company boosted its revenue by around 50% in 2023 to $120 million. The company is also planning to expand into markets such as the UK and Latin America.
Founded in 2014 by Nanu and Michael Bermingham, Nium, formerly known as Instarem, offers global cross-border payment and card issuance solutions for business.
A Message from APEX
Philippines overtakes Indonesia in deal value
Amid a broader slowdown in Southeast Asia’s venture capital funding in early 2025, a notable change is taking place in the region’s investment landscape.
According to DealStreetAsia DATA VANTAGE’s latest report Southeast Asia Deal Review: Q1 2025, the Philippines has outperformed Indonesia in terms of deal value, displacing the latter as the region’s investment hub.
During January-March (Q1) 2025, startups in the Philippines raised a total of $32 million across eight deals, compared with Indonesia’s $19 million from 16 deals.
The report also highlighted that the funding slowdown from Indonesia reflects broader VC caution amid a governance scandal at Indonesian agritech startup eFishery.
Source: DealStreetAsia’s DATA VANTAGE
The Philippines’s deal value was boosted by HR tech startup Giftaway, which bagged $18 million led by Aura Private Equity; as well as instant payment startup Higala, which secured $2.8 million led by 1982 Ventures.
Notably, the values of only three out of the total eight deals in the country were disclosed.
The data and information in this newsletter comes from DATA VANTAGE, which tracks regulatory filings to provide you with the latest information on startup fundraising, shareholding and financials. Find out how it can aid you in your decision-making — book a demo today or write to us at subs@dealstreetasia.com
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Other updates from DATA VANTAGE
Tookitaki, a Singapore-based anti-financial crime software company, welcomed True Global Ventures as a new shareholder with the allotment of preference shares worth [redacted].
Ampotech, an energy management firm based in Singapore, welcomed Clime Capital to its cap table, raising [redacted] from the Southeast Asia Clean Energy Facility (SEACEF) through the allotment of preference shares.
Singapore-based crowdfunding platform FundedHere raised [redacted] of capital through the allotment of ordinary and preference shares to existing investor Starland Axis, a digital finance firm and subsidiary of SGX-listed Luminor Financial Holdings.
Vietnamese integrated agritech platform Techcoop reported [redacted] in revenue and [redacted] in net profit for the 12-month period ended February 2024, according to its sole financial filing to date.
Singapore cloud-based insurtech platform Surer significantly narrowed its annual loss by 82% and recorded a 180% surge in revenue to [redacted] during the financial year ended June 2024.
A Message from DealStreetAsia and FT Professional
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