NymCard Secures $33M to Expand Banking-as-a-Service in MENA

Abu Dhabi-based Banking-as-a-Service (BaaS) provider NymCard has raised $33 million in a Series B funding round led by QED Investors. Existing backers Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq, and Endeavor participated, alongside new investor Oraseya Capital.

Operating in 10+ MENA markets, NymCard delivers full-stack payment infrastructure, including embedded card issuing, processing, lending, and real-time money movement services to 50+ banks, enterprises, fintechs, and telecoms.

“This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in MENA,” says CEO Omar Onsi. “With the backing of our investors, we will continue pushing the boundaries of payments and embedded finance.”