Abu Dhabi-based banking-as-a-Service vendor NymCard has secured $33 million in a Series B funding round.
Led by QED Investors, the round saw strong backing from existing investors including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq and Endeavor, alongside new participation from Oraseya Capital
Operating across 10+ markets in Mena, NymCard's full-stack infrastructure provides embedded card issuing and processing, lending and real-time money movement services to a client base comprising 50+ banks, enterprises, fintechs and telecom providers.
“This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in Mena,” says Omar Onsi, CEO of NymCard. “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 programme management capabilities.”