NymCard Raises $33M to Expand BaaS in MENA
Hey FinTech Fanatic!
NymCard has secured $33 million in a Series B funding round led by QED Investors, bringing its total funding to over $68 million.
The UAE-based Banking-as-a-Service (BaaS) provider works with financial institutions across MENA, offering the infrastructure to launch and manage virtual and plastic card programs. This partnership represents a significant step in the digital payments and mobile payments landscape, supporting embedded finance solutions for the region.
Since 2018, NymCard has supported more than 50 banks, FinTech companies, and retailers—including Xpence, Samsung, Zywa, and SAB, to name a few—offering card issuing, embedded lending, and money movement solutions.
“With the backing of our investors, we will continue pushing the boundaries of payments and embedded finance,” said Omar Onsi, CEO of NymCard. The investment will fuel the company’s expansion across more than 10 MENA markets, reinforcing its infrastructure to meet growing demand.
QED Investors’ partner Gbenga Ajayi highlighted NymCard’s role in bridging the FinTech gap: “By providing out-of-the-box card issuing and embedded finance solutions, NymCard is expanding financial access for startups and enterprises, driving SME growth, and strengthening MENA’s digital economy.”
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