NymCard Secures $33 Million to Expand MENA Operations

NymCard, an embedded finance platform operating across over 10 countries in the MENA region, has raised $33 million in a Series B funding round led by QED Investors, marking their largest investment in the area. The funding will enhance NymCard's payment infrastructure solutions, enabling better service for banks, fintechs, and telecom providers in areas such as card issuing, embedded lending, and money movement. The investment was supported by existing investors including Lunate and Mashreq Bank, alongside new participation from Oraseya Capital. NymCard's technology, particularly its nCore platform, allows clients to design and scale payment programs efficiently with modular APIs. CEO Omar Onsi emphasized the importance of this investment for fostering financial innovation in MENA. The move aligns with regional goals like Saudi Vision 2030, which promotes a cashless economy.