Can NymCard’s $33M Raise Transform Embedded Finance in MENA?

March 24, 2025

Can NymCard’s $33M Raise Transform Embedded Finance in MENA?

Article Highlights

Off On

NymCard, an embedded finance platform operating in over ten countries in the MENA region, has successfully raised $33 million in a Series B funding round led by QED Investors. This investment marks QED’s largest in the MENA region and its first in the Gulf, showcasing increasing global confidence in the area’s fintech ecosystem. Existing investors, including Lunate, Dubai Future District Fund, and Mashreq Bank, along with new backer Oraseya Capital, participated in the round, underscoring NymCard’s impactful role in the future of embedded finance in the region.

NymCard aims to deepen its presence in the MENA region by enhancing its payment infrastructure solutions for banks, enterprises, fintechs, and telecom providers. The focus will be on three core areas: Card Issuing Processing, Embedded Lending, and Money Movement. The company’s nCore platform, unique in the region for fully owning its processing and switching technology, provides a significant competitive advantage. This infrastructure allows clients to design, launch, and scale payment programs flexibly and efficiently.

CEO Omar Onsi highlighted that the investment validates the strength of NymCard’s technology and its dedication to financial innovation in the MENA region. NymCard partners with over 50 banks, fintechs, and enterprises to facilitate personalized financial offerings and support regional initiatives like Saudi Arabia’s Vision 2030 and the UAE’s push towards a cashless economy. The platform also promotes financial inclusion and innovation in Egypt.

Gbenga Ajayi, a partner at QED Investors, commended NymCard for bridging the fintech gap in MENA with its innovative solutions, which enhance financial access for startups and enterprises, boost SME growth, and strengthen the digital economy. Julien Plouzeau of Oraseya Capital praised NymCard for its strong customer loyalty, expanding product suite, and capacity to scale across diverse markets, contributing to financial services innovation in the region.

NymCard’s successful funding round will accelerate its mission to transform embedded finance in MENA by providing comprehensive and localized financial solutions. The support from notable investors solidifies its market leadership and potential to drive significant economic growth and innovation in the region’s fintech landscape.

Explore more

How Is Cognitive ERP Transforming Modern Manufacturing?

October 1, 2026

The emergence of vertical AI agents like Epicor Prism allows manufacturers to identify operational risks and reduce manual effort within established logic. This shift represents a departure from legacy systems that historically functioned as static repositories of data. For decades, Enterprise Resource Planning (ERP) served primarily as a system of record, documenting financial and operational history after the fact. However,

How Will Weather Data Change Canadian Digital Advertising?

October 1, 2026

The approach of the winter season dictates Canadian consumer behavior in the automotive and energy sectors, making real-time weather data an essential marketing tool. This reality is at the heart of a major strategic alliance between APEX Mobile Media and AccuWeather, recently finalized in Toronto to redefine how brands interact with the Canadian public. By merging globally recognized forecasting accuracy

Attackers Exploit Custom GPTs to Spread Malware via ClickFix

October 1, 2026

The rapid integration of generative artificial intelligence into everyday workflows has inadvertently created a massive new attack surface that cybercriminals are now aggressively exploiting through the subversion of trusted ecosystems. Recent security investigations have identified a sophisticated campaign that weaponizes the Custom GPT feature to deliver potent malware. This attack does not rely on traditional phishing pages that mimic a

Innogrid Builds GPU-Based AI Cloud Platform for KOSME

October 1, 2026

The modernization of the SME Big Data Platform involved replacing an inefficient on-premises system with a domestic private cloud solution that meets the National Intelligence Service’s security standards. This initiative by Innogrid addresses a critical bottleneck for the Korea SMEs and Startups Agency, which previously struggled with a rigid hardware setup that hampered its ability to process vast amounts of

Can Tech Firms Exclude Americans for H-1B Visa Holders?

October 1, 2026

Evidence presented by federal investigators suggests that several qualified domestic workers were ignored in favor of candidates from India and Nepal. This specific allegation is at the center of a federal lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) against Sibitalent Corp., a staffing agency based in Texas. The legal challenge, brought before the U.S. District Court for