In Europe, Nium soars to new heights

In Europe, Nium soars to new heights

Following extraordinary expansion in the region, Nium, the market leader in real-time international payments, today announced the appointment of Manuel Sandhofer as Senior Vice President and General Manager, Europe.

Manuel, a seasoned veteran of the fintech sector from Payoneer, brings to Nium more than 15 years of experience in team building, managing M&A integrations, and developing international organizations from seed to IPO.

With this hire, Nium will be able to further accelerate its growth in Europe, a continent that is essential to its overall success. Last year, the fintech unicorn’s European sales more than doubled, accounting for almost 40% of the company’s global revenue. Nium, which provides services to financial institutions, travel agencies, and digital platforms in the area, is expanding quickly. The volume of transactions it currently manages totals more than USD 12 billion annually, and by 2023, it expects to double its European revenue once more.

Sandhofer worked for UniCredit for almost ten years before co-founding Optile, a tech firm based in Munich that streamlines payment acceptance procedures for merchants all over the world. Sandhofer will join Payoneer in 2021. After it was successfully acquired by Payoneer, as a result of his strategic vision, leadership, and execution, Sandhofer joined the company as SVP Sales and Partners and witnessed its transformation from a private to public corporation.

“Despite a challenging macroeconomic environment in Europe, Nium is continuing to hire, sign new customers, expand its product suite, and enter new markets — and I can think of nobody better to spearhead this growth than Manuel,” said Prajit Nanu, Nium CEO and Founder. “As we hire regional GMs across the globe, my goal is to find trusted talent that can act as an extension of myself. Manuel is exactly that; he has a track record of establishing and nurturing strong teams, scaling businesses quickly, and satisfying the payment needs of clients who are multinational enterprises.”

Nium wants to expand into Amsterdam later this year, with the intention to construct an office and hire approximately 50 additional staff. Last week, the company announced updates to its payroll system which enables global payment platforms and enterprises to easily onboard, transact, and manage payroll for employees and contractors worldwide.

“I’ve observed Nium transform over the past few years from a disruptive market entry into the real-time global payment platform of choice for enterprises throughout Europe. Payments are no longer just a necessary evil; they are also a tool for enhancing productivity, developing fresh goods and services, and generating income. But we’ve barely scratched the tip of the iceberg when thinking about the possibility for enterprises in Europe, especially when applied to payroll, spend management, marketplace, and travel use cases. It’s exciting to be at the vanguard of the real-time payments revolution and to help our customers in Europe and beyond realize its full potential”, Sandhofer continued.

Source: PRNewswire

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