NymCard Raises $33 Million in Series B

NymCard, an embedded finance platform, has raised $33 million in its latest Series B funding round, led by QED Investors. The round will help expand and strengthen the payment infrastructure and fintech ecosystem in the MENA (Middle East and North Africa) region.

Existing investors, including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq, and Endeavor, along with new partner Oraseya Capital, have also supported the initiative. This funding will further solidify NymCard’s strategy of advancing embedded finance in the region.

Expanding Presence and Enhancing Payment Solutions

The investment will allow NymCard to deepen its presence in more than 10 MENA markets while enhancing its payment infrastructure solutions. The company focuses on optimizing the experience for banks, enterprises, fintechs, telecom providers, and others across three key areas: card issuing processing, embedded lending, and money movement.

NymCard’s nCore platform will offer clients greater flexibility to design, launch, and scale payment programs. This integrated platform enables businesses to manage card issuance, transaction processing, lending, and real-time payments with speed, control, and security. The company is committed to meeting the evolving needs of clients and continuing to improve payment infrastructure solutions in the market.

By providing card issuing and embedded finance solutions, NymCard is set to help bridge the fintech gap and offer businesses the infrastructure needed for growth. Its API-first approach will further expand financial access for startups and enterprises, fostering the growth of SMEs and enhancing the digital economy in MENA.