- NymCard raised $33M in Series B funding, led by QED Investors, marking their first major investment in the Gulf.
- The company plans to expand across MENA, strengthening its financial infrastructure and enhancing embedded finance solutions.
- NymCard’s proprietary nCore platform offers full-stack processing, giving businesses greater control over financial services.
UAE-based fintech company NymCard has successfully raised $33 million in its Series B funding round. The investment was led by QED Investors, marking their first major investment in the Gulf region.
Strategic Investors Join the Round
The funding round saw strong participation from existing and new investors. These included Lunate, Dubai Future District Fund (DFDF), Mashreq Bank, Knollwood, Reciprocal, FJ Labs, Endeavor, Shorooq Partners, and Oraseya Capital.
This diverse backing highlights growing confidence in NymCard’s vision and its role in shaping embedded finance across MENA.
Powering Fintech Innovation in MENA
Founded in 2018 by Omar Onsi and Ayman Chalhoub, NymCard provides API-driven solutions that enable fintech firms to integrate financial services seamlessly.
With this investment, the company plans to strengthen its infrastructure and expand its reach across 10+ markets in the MENA region. Its goal is to enhance financial access for banks, fintechs, telecom providers, and enterprises.
Unique Edge with nCore Platform
NymCard’s proprietary nCore platform sets it apart. Unlike many competitors, it owns its processing and switching technology, eliminating reliance on third-party licensing.
This gives clients complete control over card issuance, transaction processing, lending infrastructure, and real-time payments.
Investor Confidence in NymCard’s Growth
Omar Onsi, CEO of NymCard, emphasized the significance of this funding.
“This investment validates our commitment to innovation in embedded finance. With QED Investors’ backing, we are poised to push boundaries and offer best-in-class payment solutions,” Onsi said.
QED Investors partner Gbenga Ajayi also shared his enthusiasm.
“NymCard is transforming fintech in MENA by providing plug-and-play financial solutions. Their API-first approach empowers businesses and accelerates digital finance adoption in the region,” Ajayi stated.
Aligning with Regional Financial Goals
NymCard’s expansion aligns with major financial transformations in MENA. In Saudi Arabia, the company supports Vision 2030’s cashless economy push. In the UAE, it contributes to digital payment advancements under the Central Bank of the UAE. In Egypt, it facilitates financial inclusion by offering secure and flexible fintech solutions.
With a strong track record and investor confidence, NymCard is well-positioned to drive the next wave of fintech innovation in MENA.
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Last Updated on March 20, 2025 by Safiya K
