Nium Reportedly Putting IPO Plans on Hold
Nium is reportedly the latest company holding off on plans to go public.
Prajit Nanu, CEO of the Singapore-based payments firm, told Bloomberg News in an interview late Sunday (Sept. 8) that Nium will instead focus on bolstering its workforce and expanding revenues, with an initial public offering (IPO) now slated for 2026.
Nium, valued at $1.4 billion, had initially planned its IPO for 2025. Nanu said the delay was due to the company’s lengthy search for a chief financial officer, adding that having new leadership will help it focus on the IPO.
That new CFO, Andre Manci, had previously held that job at online food booking platform ChowNow, and has worked as an investment banker for Credit Suisse and advised and executed transactions for companies such as Lyft, Meta and GoDaddy.
“We started looking for a CFO a year back — it’s just been a really painful process,” Nanu said.
Nium, which helps other firms handle cross-border payments, saw its revenue grow by around 50% last year to $120 million, and is now working on expanding in regions such as Latin America and the U.K., said Nanu.
The company announced in February that it received a pair of payment licenses in India: one that allows it to issue prefunded, pre-loaded cards for consumer and business applications inside that country, and the other letting Nium offer merchant onboarding and acquiring services in the Indian market.
And in April, Nium expanded its partnership with payments processor Thredd, with an arrangement that allows Nium to issue virtual cards in the Asia-Pacific (APAC) region.
Nium’s plans for a 2026 IPO come as many bankers and executives are apparently hoping for a rebound of the public listings market for 2025, as a revitalization they’d envisioned for this year has not come to pass.
“It’s not just recent turbulence in the stock market holding IPOs back, but also worries that the economy could grow hectic again, with the outcome of November’s presidential election and the Federal Reserve’s interest rate decision still undetermined,” PYMNTS wrote last month.
Like Nium, some companies are pushing their IPO plans back. Among them is the Chinese autonomous-driving technology firm WeRide, which needed time to finalize documents before it could go public. And in July ticket reseller StubHub announced it was postponing its pre-IPO investor roadshow.
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