Abu Dhabi-based banking-as-a-service vendor NymCard has successfully raised $33 million in a Series B funding round.
Led by QED Investors, this round attracted significant support from existing investors such as Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq, as well as new participant Oraseya Capital.
NymCard operates in over 10 markets in the Mena region and offers a comprehensive infrastructure that includes embedded card issuing and processing, lending, and real-time money movement services. Their client base features more than 50 banks, enterprises, fintech companies, and telecom providers.
“This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in Mena,” stated Omar Onsi, CEO of NymCard. “With the backing of our investors, we will continue to push the boundaries of payments and embedded finance, ensuring our clients have access to best-in-class payment infrastructure solutions supported by robust program management capabilities.”