Dubai – Sharikat Mubasher: NymCard raised $33 million in a Series B funding round led by QED Investors, marking the firm's largest investment in the region and its first in the Gulf.
According to a recent press release, this round also saw backing from existing investors such as Lunate, Dubai Future Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Endeavor, and Shorooq Partners, while Oraseya Capital joined as a new investor.
With this funding, NymCard plans to strengthen its presence across over 10 markets in the Middle East and North Africa while enhancing its payment infrastructure solutions for banks, fintechs, telecom providers, and other enterprises.
The platform’s nCore technology offers a fully-owned processing and switching system, eliminating reliance on third-party licensing and allowing clients to design, launch, and scale payment programs with flexibility.
Omar Onsi, NymCard CEO, said the investment reflects confidence in the company's technology and its commitment to advancing financial innovation in the region. He said: "With our investors’ support, we’ll continue to push the boundaries of embedded finance and payments."
QED Investors partner Gbaga Agyei highlighted NymCard’s role in bridging the fintech gap, while Julian Peluso of Oraseya Capital praised the company's strong customer loyalty and expansive product offerings.
NymCard’s regional presence aligns with Saudi Arabia's Vision 2030 push for a cashless economy, while in the UAE, it holds a Central Bank of the UAE license supporting digital payment initiatives. In Egypt, NymCard’s solutions aim to expand financial inclusion and innovation.
