UAE-based NymCard has raised $33 million in a Series B funding led by QED Investors, with participation from Lunate, Dubai Future District Fund, Mashreq, Knollwood Investment Advisory, Reciprocal, FJ Labs, Endeavor, Shorooq, and Oraseya Capital.

More to Know:

• Omar Onsi founded NymCard in 2018.
• NymCard provides infrastructure for banks, fintechs, enterprises, and telecom providers, including card issuance, transaction processing, digital lending, and real-time money movement through its proprietary nCore platform.
• It operates in 10 markets across the MENA region, according to its press release.
• The funds will support its expansion and strengthen digital payment infrastructure in the region

Related Comments:

• Omar Onsi, CEO of NymCard stated: “This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in MENA,” he added “With the backing of our investors, we will continue pushing the boundaries of payments and embedded finance, ensuring our clients have access to best-in-class payment infrastructure solutions backed up by solid program management capabilities. We are especially excited to welcome QED Investors on this journey, given their unrivaled experience in fintech across multiple geographies. Their expertise will be invaluable as we further expand our impact in the region.”
• Gbenga Ajayi, QED Investors’ partner, Head of Middle East and Africa, said: “NymCard is a true testament to the ripe and flourishing ecosystem we are seeing across MENA. By providing out-of-the-box card issuing and embedded finance solutions, NymCard is bridging the fintech gap and empowering businesses with the infrastructure they need to innovate. With its API-first approach, NymCard is expanding financial access for startups and enterprises, driving SME growth, and strengthening MENA’s digital economy.”
• Julien Plouzeau, Senior Partner at Oraseya Capital, added: “NymCard has firmly established itself as the market leader in fintech infrastructure across MENA, with deep customer stickiness and an expanding product suite that serves a broad range of industries. Its proprietary technology, regulatory positioning, and ability to scale across diverse markets make it a critical enabler of financial services innovation in the region. We are excited to support Omar and his exceptional team as they continue to redefine embedded finance in MENA”.

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