NymCard, a leading embedded finance platform operating across more than 10 countries in the MENA region, has successfully raised $33 million in its latest Series B funding round. The round was led by QED Investors, marking its largest investment in MENA and its first time spearheading a deal in the Gulf Cooperation Council. This significant investment highlights the increasing global confidence in the region’s rapidly growing fintech ecosystem.
The funding round received strong support from existing investors, including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq, and Endeavor. Additionally, new investor Oraseya Capital joined the round, further validating NymCard’s pivotal role in shaping the future of embedded finance in the region.
With this fresh capital, NymCard aims to strengthen its presence across its 10+ markets and enhance its core payment infrastructure solutions. The company serves a diverse range of financial players, including banks, fintechs, enterprises, and telecom providers, focusing on three key verticals: Card Issuing Processing, Embedded Lending, and Money Movement.
A major differentiator for NymCard is its proprietary nCore platform—the only issuer processor in MENA that fully owns its processing and switching technology instead of relying on third-party providers. This localized, full-stack infrastructure enables businesses to efficiently launch, manage, and scale payment programs with greater flexibility. Through its modular API-driven approach, nCore allows seamless card issuance, transaction processing, lending, and real-time payments, providing unparalleled speed, control, and efficiency.
CEO Omar Onsi expressed enthusiasm about the investment, stating, “This funding validates our commitment to financial innovation in MENA. With the support of our investors, we will continue to expand our offerings and ensure our clients have access to world-class payment infrastructure.”
NymCard’s influence extends across multiple markets, aligning with national fintech agendas. In Saudi Arabia, it supports Vision 2030 by driving the shift toward a cashless economy. In the UAE, it plays a crucial role in digitizing financial transactions as a licensed entity under the Central Bank of the UAE. In Egypt, it provides secure and flexible financial solutions that promote financial inclusion and innovation.
QED Investors’ partner Gbenga Ajayi praised NymCard for its transformative impact, stating that the company is bridging the fintech gap in MENA with its cutting-edge embedded finance solutions. Similarly, Oraseya Capital’s Julien Plouzeau highlighted NymCard’s regulatory positioning and scalability as key factors in its leadership in fintech infrastructure across the region.
