NymCard, the leading embedded finance platform in the MENA region, has secured $33 million in its latest Series B funding round, led by QED Investors. This marks QED’s first investment in the Gulf region and underscores the growing global confidence in MENA’s fintech ecosystem.
The funding round saw strong support from existing investors such as Lunate, Dubai Future District Fund, Mashreq Bank, and Shorooq, alongside new participation from Oraseya Capital. This investment will help NymCard expand its payment infrastructure solutions across 10+ countries, enhancing its offerings in Card Issuing Processing, Embedded Lending, and Money Movement.
NymCard’s proprietary nCore platform is the only issuer processor in MENA with full control over its processing and switching technology. This gives businesses a competitive edge by offering flexibility in designing, launching, and scaling payment programs. NymCard’s modular APIs enable clients to seamlessly manage card issuance, transaction processing, lending infrastructure, and real-time payments—all within a fully integrated stack.
CEO Omar Onsi expressed excitement about the investment, stating it reflects the strength of their technology and commitment to enabling financial innovation in MENA. NymCard’s client base includes over 50 banks, fintechs, and enterprises, and the company is playing a significant role in driving digital transformation across MENA, including supporting Saudi Arabia’s Vision 2030 and contributing to Egypt’s fintech ecosystem.
QED Investors’ Gbenga Ajayi and Oraseya Capital’s Julien Plouzeau emphasized NymCard’s ability to bridge the fintech gap and empower businesses with the infrastructure needed to innovate and expand in the region.
