Nium’s CEO and Co-Founder, Prajit Nanu, had an insightful interview with CNBC’s “Squawk Box” at Money 20/20 Amsterdam to discuss his thoughts on fintech’s changing landscape. He shared: “Tougher companies are going to survive. Companies which are not going to be able to raise are either going to get consolidated or shut down.” With the shifts in the global market, the next 12 to 18 months show significant signs of larger players consolidating their strengths across multiple regions to deliver expanded regional coverage.
With the advantages of being well-capitalized and customers worldwide, Prajit mentioned that the impact of the economic landscape is more daunting for companies not generating revenue. He stated: “We’re on a 100 million-plus revenue run rate; we will cross over 100 million in gross revenue this year, so we’ve had lesser of those challenges.” More than ever, there is a focus on profits and accelerated growth as the industry prepares for a funding winter to win investor confidence.
Prajit also shared that one of Nium’s most important payments divisions, travel, is booming: “Everyone is coming back to travel, so we see the travel continuously growing. E-commerce, online purchases, anything which is ‘consumption’ is still growing.”
View the complete interview here: