Dubai-based embedded finance platform NymCard raised USD 33 mn in its latest Series B funding round, led by US-based fintech VC QED Investors, making this the VC firm’s largest investment in the region and first lead transaction in the GCC, according to a statement. Existing backers, including Lunate, Dubai Future District Fund, our friends at Mashreq, and Shorooq, also participated, alongside new investor Oraseya Capital.

Where will the funds go? The funding will fuel NymCard’s growth across more than 10 MENA markets, strengthening its card issuing, embedded lending, and money movement solutions for banks, fintechs, telecom providers, and enterprises.

About NymCard: Founded by Omar Onsi (LinkedIn) in 2018, NymCard provides banks, fintechs, and enterprises with a full-stack, API-first payments infrastructure. Licensed by the Central Bank of the UAE, the company’s proprietary nCore platform gives clients end-to-end control over payment program design, scaling, and real-time transaction processing.

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