omnispay Secures $1.5 million seed led by Mercatus Capital
Founded in 2022 by Simanta Das, Vimal Kumar and Praveen Kiran, omnispay simplifies SME cash flow management through its all-in-one collect, pay, and borrow platform.
omnispay claims to have onboarded over 1,600 businesses with rapid month-on-month growth.
Press release:
omnispay, a UAE-based fintech innovating SME payments, today announced it has raised $1.5 million in a seed funding round led by Mercatus Capital Pte. Ltd., a Singapore-based venture capital firm, with participation from regional and international investors. The funds will accelerate omnispay's mission to empower SMEs with an all-in-one platform for collecting, paying, and managing cash flow while advancing the GCC's digital transformation agenda.
The company addresses a critical gap in the GCC's B2B payments landscape, where less than 5% of transactions are digitised despite an opportunity size exceeding $1.5 trillion annually. This presents a massive opportunity for omnispay to drive digital adoption and unlock economic potential for SMEs. Unlike competitors who focus solely on collections, omnispay combines collect, pay, and borrow functionalities—intelligently orchestrated to reduce transaction costs and simplify cash flow management and provide SMEs with a competitive edge in a digital-first economy. With 1,600+ businesses onboarded, 40% month-on-month growth in processed volumes, and a 5-star customer rating on Google, the platform is rapidly becoming the go-to solution for SMEs. omnispay's mobile app is the first in the region to support English, Arabic, and Malayalam, breaking language barriers for businesses across the UAE. Over 40% of its customers are accepting digital payments for the first time.
Vimal Kumar, Co-Founder & CEO of omnispay emphasised the importance of SMEs, which constitute 94% of companies and generate 40% of GDP in the UAE (UAE Ministry of Economy). 'SMEs are the backbone of the GCC economy, yet they've been underserved by legacy financial tools. By democratising access to digital payments, we believe we're fuelling regional growth,' he says.
'This seed round serves as a powerful endorsement of omnispay's vision and market fit,' says Simanta Das, Co-Founder & COO of omnispay. 'We are thrilled to welcome Mercatus Capital and our other investors who share our belief in empowering SMEs through accessible, multilingual, and intelligent payment solutions. Our platform is designed to simplify the entire payment journey—from invoice management and smart efficiency tools to quick settlement, including responsible borrowing options.'
Post-pandemic, SME adoption of digital payments increased by 60%, though it remains significantly lower in B2B contexts compared to B2C. By combining COLLECT (invoice management and digital collections), PAY (flexible payment methods and disbursements), and BORROW (future micro-lending functionality), omnispay is uniquely positioned to bridge this gap, enabling SMEs to fully embrace digital transformation and compete in a rapidly evolving economy.
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