Nium Doubles Revenue in 2022, Intends to Open Amsterdam Office

Monday, 05/06/2023 | 07:37 GMT by Damian Chmiel
  • The company appointed Manuel Sandhofer as Senior VP and GM in Europe.
  • The new leader brings 15 years of industry experience to the expanding company.
European Union

Nium, a global leader in real-time payments , has recently named Manuel Sandhofer as its Senior Vice President and General Manager for Europe. This announcement came in the wake of dynamic growth for the company in the region.

Nium Wants to Double Revenues in 2023

Sandhofer, an experienced figure in the fintech sector, comes from Payoneer and brings a wealth of 15 years of experience in the industry. His track record includes leading teams, managing mergers and acquisitions, and scaling global organizations from their inception to IPO.

The introduction of Sandhofer is a calculated move by Nium, seeking to solidify its already impressive growth in Europe, a crucial market for the firm's global ambitions. The company has experienced a doubling of its European revenue in the past year, contributing to more than 40% of its global earnings. The company has experienced an upsurge in its transaction volume, managing over USD 12 billion annually. It anticipates another doubling of its European revenue in 2023.

"Nium's persistence in a challenging macroeconomic climate in Europe is commendable. With continuous hiring, customer acquisition, product suite expansion, and market penetration, Manuel is the perfect fit to lead this progression," Prajit Nanu, the CEO and Founder at Nium, expressed. "In Manuel, we have found a leader whose experience and proven track record align perfectly with our vision."

Amsterdam Expansion Plans

The company wants to broaden its presence in Amsterdam later this year. This expansion includes the intent to open an office and hire over 50 new employees. Recent advancements in its payroll solution have positioned Nium to offer seamless global payment and management services to businesses worldwide.

Manuel Sandhofer
Manuel Sandhofer

"Watching Nium transform from a disruptive newcomer to the go-to platform for real-time global payments in Europe has been exciting. The potential for businesses in Europe is immense, especially in areas like payroll, spend management, marketplace, and travel. I look forward to unlocking this potential for our customers,” Sandhofer shared his enthusiasm about his new role.

Nium Hires and Bets on Crypto

In January, the payment infrastructure company strengthened its leadership by appointing Sharon Gal Franko as the General Manager of Israel and Vice President of Global Partnerships.

"I am super excited to announce that I have joined Nium, the global leader in the on-demand money movement, as General Manager of Israel and Vice President of Global Partnerships!" Franko wrote in a Linkedin post.

Last year, Nium solidified its global presence by expanding its real-time payment services in Malaysia, allowing the company to process over 75% of its global transactions in real-time.

At last year’s Bitcoin Conference, Nium unveiled Crypto Accept, an innovative product that empowers businesses globally to accept cryptocurrency payments. In the meantime, the company launched a groundbreaking Crypto-as-a-Service (CaaS) solution, allowing financial institutions to add in-demand crypto investment features through APIs.

The company’s platform supports 100 currencies and operates in 190+ markets, with real-time functionality in 100 of them. Nium, licensed in over 40 countries, offers swift onboarding and compliance, irrespective of location. With dual headquarters in San Francisco and Singapore and several regional offices, Nium is a globally trusted payment solution.

Nium, a global leader in real-time payments , has recently named Manuel Sandhofer as its Senior Vice President and General Manager for Europe. This announcement came in the wake of dynamic growth for the company in the region.

Nium Wants to Double Revenues in 2023

Sandhofer, an experienced figure in the fintech sector, comes from Payoneer and brings a wealth of 15 years of experience in the industry. His track record includes leading teams, managing mergers and acquisitions, and scaling global organizations from their inception to IPO.

The introduction of Sandhofer is a calculated move by Nium, seeking to solidify its already impressive growth in Europe, a crucial market for the firm's global ambitions. The company has experienced a doubling of its European revenue in the past year, contributing to more than 40% of its global earnings. The company has experienced an upsurge in its transaction volume, managing over USD 12 billion annually. It anticipates another doubling of its European revenue in 2023.

"Nium's persistence in a challenging macroeconomic climate in Europe is commendable. With continuous hiring, customer acquisition, product suite expansion, and market penetration, Manuel is the perfect fit to lead this progression," Prajit Nanu, the CEO and Founder at Nium, expressed. "In Manuel, we have found a leader whose experience and proven track record align perfectly with our vision."

Amsterdam Expansion Plans

The company wants to broaden its presence in Amsterdam later this year. This expansion includes the intent to open an office and hire over 50 new employees. Recent advancements in its payroll solution have positioned Nium to offer seamless global payment and management services to businesses worldwide.

Manuel Sandhofer
Manuel Sandhofer

"Watching Nium transform from a disruptive newcomer to the go-to platform for real-time global payments in Europe has been exciting. The potential for businesses in Europe is immense, especially in areas like payroll, spend management, marketplace, and travel. I look forward to unlocking this potential for our customers,” Sandhofer shared his enthusiasm about his new role.

Nium Hires and Bets on Crypto

In January, the payment infrastructure company strengthened its leadership by appointing Sharon Gal Franko as the General Manager of Israel and Vice President of Global Partnerships.

"I am super excited to announce that I have joined Nium, the global leader in the on-demand money movement, as General Manager of Israel and Vice President of Global Partnerships!" Franko wrote in a Linkedin post.

Last year, Nium solidified its global presence by expanding its real-time payment services in Malaysia, allowing the company to process over 75% of its global transactions in real-time.

At last year’s Bitcoin Conference, Nium unveiled Crypto Accept, an innovative product that empowers businesses globally to accept cryptocurrency payments. In the meantime, the company launched a groundbreaking Crypto-as-a-Service (CaaS) solution, allowing financial institutions to add in-demand crypto investment features through APIs.

The company’s platform supports 100 currencies and operates in 190+ markets, with real-time functionality in 100 of them. Nium, licensed in over 40 countries, offers swift onboarding and compliance, irrespective of location. With dual headquarters in San Francisco and Singapore and several regional offices, Nium is a globally trusted payment solution.

About the Author: Damian Chmiel
Damian Chmiel
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1527 Articles
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