NymCard, an embedded finance platform operating across more than 10 countries in the MENA region, has raised $33m in a Series B funding round.
The investment was led by QED Investors, marking the firm’s most significant commitment in the region and its first lead investment in the Gulf Cooperation Council (GCC).
The funding round also saw participation from existing investors, including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq, and Endeavor. Additionally, Oraseya Capital joined as a new investor, reinforcing confidence in NymCard’s role in shaping the future of embedded finance in MENA.
NymCard provides full-stack payment infrastructure for banks, enterprises, FinTechs, and telecom providers across three core verticals: card issuing and processing, embedded lending, and money movement.
The company operates the nCore platform, the only issuer processor in MENA that fully owns its processing and switching technology. Unlike competitors relying on third-party licensing, NymCard’s proprietary infrastructure enables businesses to design, launch, and scale payment programmes with enhanced flexibility. The platform’s modular APIs facilitate seamless management of card issuance, transaction processing, and real-time payments within an integrated financial stack.
NymCard CEO Omar Onsi said, “This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in MENA.
“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 and 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.”
Keep up with all the latest FinTech news here
Copyright © 2025 FinTech Global
Investors
The following investor(s) were tagged in this article.
