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Singapore Fintech Firm Nium Expands in U.K. Before Pursuing IPO

June 7, 2021, 9:00 AM

Nium, a Singapore-based fintech startup backed by state-owned investor Temasek Holdings Pte, agreed to buy payments firm Ixaris for an undisclosed amount to expand in Europe before pursuing an initial public offering in the U.S.

All of Ixaris’s 86 employees in London and Malta will join Nium, according to an emailed statement from Nium on Monday. Ixaris, based in London, is best known for introducing Europe’s first virtual prepaid card in 2003. An e-money licensed entity in Europe, the firm helps airlines and online travel agents reduce surcharges and earn rebates.

Nium is broadening its geographic reach before ...