The partnership will enable Rimuut to provide better collections and payout services to Rimuut’s users as they will gain access to Nium’s global payments infrastructure.
LONDON, UK, 12 May 2021 – Next-generation financial services platform Nium and global invoicing and payments platform Rimuut announced a strategic partnership that will allow Rimuut to leverage Nium’s vast payout network and speedy cross-border collection service.
With approximately 20 million freelancers in the EU, making up 8% of the workforce in the region and nearly 60 million freelancers in the US, which make up about 35% of the workforce[1], the partnership with Nium will enable Rimuut to gain competitive advantage in the booming freelance ecosystem and gig economy.
With a simple yet secure financial operations approach, Rimuut sets the facilitation of the invoicing and payment processes between businesses and independent professionals at its core. Businesses have become more agile thanks to the swift nature of Rimuut’s invoicing and payment system. The collaboration with Nium will make this process even more convenient, secure, and fast.
Nium’s global payments technology stack will not only make the collection and disbursement of funds in local currencies quicker and more cost-efficient for Rimuut, but it will also introduce Rimuut to new markets, including access to countries such as Taiwan or the Philippines.
With a global network of over 40 partnering banks and a robust regulatory portfolio that includes licences in Singapore, Malaysia, Australia, Hong Kong, India, Indonesia, Japan, the UK, the EU, Canada, and the USA, Nium is also able to provide guidance and support on local policies and regulations in new markets and will enable Rimuut to scale globally.
“We’ve been working on our international expansion for a while now. Currently, Rimuut offers financial solutions to more than 3,500 businesses engaged in financial transactions with over 35,000 freelancers located in different countries. This partnership will widen our reach, strengthen our operation, and provide financial services to empower businesses who need to make cross-border payments through our innovative platform. We believe that our partnership with Nium will provide just the right support we need to offer the best, most convenient service to our users,” says Mert Bulut, Co-Founder and CEO of Rimuut.
Nium’s pay-out capability allows Rimuut to:
- Access to over 65 payment corridors
- Pay freelancers in full in their desired currency (making sure the full amount reaches the payee, with no hidden fees)
- Provide instant, speedy settlements to freelancers
Nium’s pay-in capability allows Rimuut to:
- To collect funds from their global corporate partners into dedicated onshore currency accounts in APAC, the EU, the UK & the US
“We are very excited about this partnership and the tremendous opportunities this presents for both parties. We strongly believe in Rimuut’s unique business model and want to make sure that every transactional process powered by Nium, will contribute to the overall efficiency and agility of the platform and experience for its users. Our journey together has begun, and we have big plans to unlock even more capabilities and embedded platform APIs to Rimuut as we grow this partnership further,” says Danny Carolan May – VP and Head of Business Development in Europe, at Nium.
About Nium
Nium is a next-generation financial services platform that enables companies to unlock new revenue opportunities and improve cash flow economics globally.
Nium is a leader in its geographical and payment service breadth, owning licenses in the world’s largest and fastest-growing economies. Our modular platform allows banks, payment providers, travel companies, and other businesses to collect and disburse funds in local currencies to over 100 countries, plus issue physical and virtual cards globally. Our proprietary set of APIs embeds financial services and can bring multiple B2B and B2C use cases in a matter of weeks to life.
Nium is part of CB Insights Fintech 250, which highlights the most promising Fintech companies globally. Today, Nium serves over 130 million customers and enables platforms to provide access to financial services to over 3 billion people across the world.
For more information, visit https://www.nium.com/
About Rimuut:
Rimuut empowers independent professionals and businesses by providing a borderless, tax-deductible invoicing solution and secure payment system. By using Rimuut’s payment and invoicing solution, businesses obtain legally compliant, globally recognized, easily accountable invoices for freelance services they acquire, and freelancers can launch their solo businesses and get paid on time in any currency quickly.
Rimuut also helps freelancers and businesses to stay compliant with locally applicable taxation rules as they work beyond borders. By signing up with Rimuut, freelancers can save time for their solo business by ruling out red-tape. Businesses can become more agile by easing the payment and compliance process in 150 countries while enjoying the benefit of handling the payment procedure smoothly and safely on Rimuut.
For more information, visit https://rimuut.com
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