Original disclosure @ FMO website
Updated in EWS Dec 1, 2020
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Nium, formerly known as InstaRem is a Singapore-headquartered fintech provider of digital cross-border money transfers. Founded in 2014, the Company has developed a platform, which helps to reduce the costs of cross-border money transfers to over 90 countries and in over 60 curencies.
FMO has initially invested in the Company in 2017, topping up its commitment in 2018, via the SBI Emerging Asia Financial Sector Fund, to help finance the Company's growth. In 2020 FMO transferred its stake, becoming a direct shareholder in Nium.
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Project contacts not available at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism