AI
Saudi Arabia
UAE
EgyptNymCard Raises $33M Series B to Propel MENA Fintech Expansion
2 min
NymCard, a UAE-based fintech, raised $33 million in a successful Series B funding round.
The funding round was led by QED Investors, joined by prominent fellow investors.
NymCard offers nCore, a platform serving banks, telecoms, and fintechs with card issuing and payments.
With footprints in around 10 MENA markets, it plans to enhance its solutions and infrastructure.
NymCard's regional success is attracting global interest and support for continued growth.
There's certainly no slowing down NymCard these days. The UAE-based fintech startup has just wrapped up a successful Series B funding round, raising an impressive $33 million. Not exactly pocket change, is it?
Leading the investment was QED Investors, alongside several heavy-hitters like Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood Investment Advisory, Reciprocal, FJ Labs, Endeavor, Shorooq, and Oraseya Capital. Quite the convoy of investors hopping aboard to back the company, clearly showing substantial faith in NymCard's future.
Since launching back in 2018, NymCard—under founder Omar Onsi's guidance—has seriously made waves throughout the Middle East and North Africa region. Their specialised technology platform, nCore, delivers payment and financial solutions to banks, telecoms, fintech startups, and even bog-standard corporates. This includes everything from card issuing and processing to money transfers, lending infrastructure, and payment services. Basically, if you have digital financial needs, they've probably got you covered.
Right now, the company's got footprints in about 10 markets across the MENA region, and with this fresh influx of funds it looks like expansion's definitly on the cards. They'll be putting the money toward creating more robust, scalable solutions and further strengthening their infrastructure. Makes sense, really; this cash injection seems primed to fuel some ambitious growth in the coming months.
It's impressive to witness regionally born startups like NymCard continually attracting global attention and support. And, judging from the notable lineup of backers, many clearly reckon this company is heading for bright things ahead. Seems like one to keep an eye on, Arageek readers, don't you think?
