QED Investors Leads $33M Investment in NymCard, Strengthening MENA's Payments Infrastructure - Middle East Business News and Information
UAE: NymCard , the only embedded finance platform operating across 10+ countries in MENA, has secured $33 million in its latest Series B funding round, led by QED Investors . This marks QED Investors' most significant investment in the region – and the first time leading a deal in the Gulf Cooperation Council — underscoring the growing global confidence in MENA's expanding fintech ecosystem.
The round saw strong backing from existing investors including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, Shorooq and Endeavor, alongside new participation from Oraseya Capital, further validating NymCard's role in powering the future of embedded finance in the region.
With this investment, NymCard is deepening its presence across 10+ markets in MENA, strengthening its payment infrastructure solutions to better serve banks, enterprises, fintechs, telecom providers, and more across its three core verticals: Card Issuing Processing, Embedded Lending, and Money movement.
NymCard's nCore platform is the only issuer processor in MENA that fully owns its processing and switching technology, rather than licensing from third parties. This localized, full-stack infrastructure gives clients a competitive edge, enabling them to design, launch, and scale payment programs with unmatched flexibility. Built on modular APIs, nCore allows businesses to seamlessly manage card issuance, transaction processing, lending infrastructure, and real-time payments—all within a fully integrated financial stack that ensures speed, control, and efficiency.
'This investment is a testament to the strength of our technology and our commitment to enabling financial innovation in MENA,' said Omar Onsi, CEO of NymCard . 'With the backing of our investors, we will continue pushing the boundaries of payments and embedded finance, ensuring our clients have access to best-in-class payment infrastructure solutions backed up by solid program management capabilities. We are especially excited to welcome QED Investors on this journey, given their unrivaled experience in fintech across multiple geographies. Their expertise will be invaluable as we further expand our impact in the region.'
To date, NymCard has partnered with 50+ banks, fintechs, and enterprises, delivering personalized financial offerings across the region. In Saudi Arabia, NymCard aligns with Vision 2030, supporting the country's shift toward a cashless economy. In the UAE, where the focus is on digitizing money movement, NymCard plays a key role as a licensed entity under the Central Bank of the UAE (CBUAE). In Egypt, with its thriving fintech ecosystem, NymCard provides the flexibility and security needed for businesses to drive financial inclusion and innovation.
' NymCard is a true testament to the r ipe and flourishing ecosystem we are seeing across MENA. ' shared Gbenga Ajayi, QED Investors' partner, Head of Middle East and Africa . 'By providing out-of-the-box card issuing and embedded finance solutions, NymCard is bridging the fintech gap and empowering businesses with the infrastructure they need to innovate. With its API-first approach, NymCard is expanding financial access for startups and enterprises, driving SME growth, and strengthening MENA's digital economy.'
'NymCard has firmly established itself as the market leader in fintech infrastructure across MENA, with deep customer stickiness and an expanding product suite that serves a broad range of industries. Its proprietary technology, regulatory positioning, and ability to scale across diverse markets make it a critical enabler of financial services innovation in the region. We are excited to support Omar and his exceptional team as they continue to redefine embedded finance in MENA' added Julien Plouzeau, Senior Partner at Oraseya Capita l.
About QED Investors
QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners' decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.
About NymCard:
NymCard is the only embedded finance platform in MENA with a full-stack, API-first payment infrastructure for banks, fintechs, enterprises, and telecom providers. Operating across 10+ countries, NymCard enables seamless card issuance, transaction processing, digital lending, and real-time money movement through its proprietary nCore platform.
As the only issuer processor in MENA that fully owns its processing and switching technology, NymCard delivers unmatched speed, control, and flexibility, eliminating reliance on third-party providers. Licensed by the Central Bank of the UAE, NymCard ensures regulatory compliance, empowering financial institutions to scale and innovate with confidence.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Egypt Today
2 days ago
- Egypt Today
Vodafone Egypt Reinforces Market Leadership by Launching Egypt's Most Extensive 5G Network to Drive Digital Innovation
Today, Vodafone Egypt officially launched 5G technology for the first time in the Egyptian market, delivering an unprecedented array of advantages that extend far beyond individual consumers to encompass businesses and enterprises alike. This groundbreaking initiative solidifies Vodafone Egypt's position as an industry pioneer in innovation, cutting-edge communications, and digital empowerment for millions of Egyptians by providing state-of-the-art telecommunications services. The revolutionary 5G network delivers seamless, high-speed streaming experiences with ultra-low latency, satisfying the demanding requirements of advanced interactive applications and gaming enthusiasts. It also provides exceptional reliability, strengthening digital infrastructure across healthcare, industrial, and numerous other critical sectors. Furthermore, the network facilitates the advancement of Internet of Things (IoT) services across multiple vital industries, significantly enhancing quality of life while bolstering the national economy. Building on Vodafone's extensive global experience in deploying 5G technology across diverse international key markets, the company introduces this technology in Egypt, offering unparalleled coverage spanning over 2,000 sites from Cairo to Upper Egypt, across numerous governorates throughout the Republic. This comprehensive rollout ensures superior telecommunications services for users while supporting all economic sectors. Vodafone Egypt commits to substantially expanding its 5G coverage areas over the coming weeks, with ambitious plans to extend 5G technology nationwide, thereby reinforcing its role as a digital enabler by establishing a robust network equipped with cutting-edge services that will serve as the cornerstone of Egypt's future digital economy. Mohamed Abdallah, Chief Executive Officer of Vodacom International Markets and Vodafone Egypt commented: "Today marks a historic milestone in Egypt's telecommunications landscape with the launch of 5G technology, representing the culmination of our successful infrastructure development strategy and adoption of the world's most advanced technologies. We take immense pride in maintaining our position as Egypt's top-performing network for the second consecutive year, as validated by independent international organizations, demonstrating our unwavering commitment to delivering exceptional customer experiences. Through our 5G network launch, Vodafone Egypt harnesses the Vodafone Group's global expertise to provide our individual and corporate customers with the most comprehensive and reliable coverage in the Egyptian market, unlocking innovative possibilities across vital sectors including healthcare, industry, and education, while paving the path toward smart cities and contributing to Egypt's Vision 2030 digital transformation objectives." Vodafone extends access to 5G technology to all customers across every package, without additional charges, simply by activating the service through device settings adjustments for 5G-compatible devices, eliminating the need for SIM card replacement. Customers can verify device compatibility through the Vodafone application or via the dedicated link: The company delivers 5G technology with dependable connectivity and exceptional data transfer speeds, supported by substantial investments in developing robust infrastructure that provides users with reliable, high-speed connections and trustworthy services. This is made possible by the latest innovative technologies, including the groundbreaking 'Adaptive Interference Free (AIF)' system. This system, pioneered by Vodafone Egypt, is a world-first innovation that eliminates interference in the 5G network, ensuring consistently high performance. Mohamed Abdallah concluded: "Vodafone Egypt firmly believes technology should serve everyone universally. Through our 5G launch, we create new opportunities across all sectors while reaffirming our dedication to accelerating Egypt's digital transformation and establishing the foundation for tomorrow's digital economy. We consistently place our customers at the center of our operations, continuously striving to simplify their daily lives and elevate their digital experiences." To showcase the advantages of 5G within the Egyptian market, Vodafone Egypt participated in Insomnia Egypt, the country's largest gaming festival. The event, held from April 24 to 26, 2025, at the Cairo International Exhibition Center, provided a platform for Vodafone Egypt to demonstrate the capabilities of 5 G technology in enhancing gaming experiences. This initiative represents part of Vodafone Egypt's significant achievements series, confirming the company's extensive expertise in this domain, which was recently highlighted by securing first place in the latest network performance measurement reports from Umlaut, the independent benchmarking organization for both 2024 and 2025.
Mid East Info
2 days ago
- Mid East Info
KFSHRC Pioneering Clinical Trials and Gene Therapy Across the Region - Middle East Business News and Information
As part of Saudi Arabia's broader biotechnology transformation under Vision 2030, King Faisal Specialist Hospital & Research Centre (KFSHRC) solidified its role as the Kingdom's leading Clinical Trials hub in 2024 — conducting 52.4% of all active Clinical Trials nationwide, according to the Saudi National Institute of Health. This milestone reflects the sustained success of KFSHRC's Clinical Trials Transformation Initiative, launched in 2021 to build an integrated, patient-centered research ecosystem. By the end of 2024, the hospital had recorded 701 active research proposals, representing an 8% increase over the previous year. In Riyadh alone, research approvals rose by 20%, demonstrating growing alignment between scientific discovery and clinical care delivery. KFSHRC's research growth was matched by key innovation milestones. In 2024, it became the first in Saudi Arabia to locally produce CAR-T cells — a major step toward national self-sufficiency in advanced therapies. It also delivered a breakthrough in hemophilia care, using one-time gene therapy to restore clotting function in eight patients, eliminating preventive treatment and significantly improving quality of life. These advancements align closely with Saudi Arabia's Vision 2030 and National Biotechnology Strategy, which designate biotechnology as a national priority sector — aiming to localize therapeutic development, accelerate innovation, and establish global leadership by 2040. Complementing its scientific leadership, KFSHRC has also invested in public engagement, launching awareness campaigns in high-traffic public venues to promote Clinical Trials literacy and reduce misconceptions around participation. It is noteworthy that KFSHRC has been ranked first in the Middle East and Africa and 15th globally among the world's top 250 Academic Medical Centres for the third consecutive year, and recognised as the most valuable healthcare brand in the Kingdom and the Middle East, according to the 2025 Brand Finance rankings. Additionally, it was included in the World's Best Smart Hospitals list for 2025 by Newsweek magazine.
Mid East Info
3 days ago
- Mid East Info
UAE startup makes waves with free mineral water for everyone - Middle East Business News and Information
Staying hydrated just got easier, and greener, thanks to Ourwatr, a homegrown UAE startup that's launching a nationwide free mineral water programme starting June 2025. It's a first in the region: clean, refreshing mineral water made freely available across the country, delivered through a unique model that blends sustainability, community care, and social impact. From metro stations and shopping malls to parks and government offices, thousands of chilled bottles of mineral water, sourced locally from Dibba, Fujairah, will soon be within everyone's reach, every day. Ourwatr's mission is simple: hydration is a right, not a privilege. 'At Ourwatr, we believe that drinking water should be accessible to all,' says Abhinav Murali, Co-founder. 'That's why we're giving away premium mineral water for free, and every bottle supports communities in need. It's hydration with heart, proudly made right here in the UAE.' Stamp of UAE quality All Ourwatr bottles carry the prestigious EQM (Emirates Quality Mark) certification, guaranteeing they meet strict UAE national and international quality standards. When you grab a bottle, you're assured of top-quality water, safe, pure, refreshing and approved by the country's standardisation authority. Mission in a bottle With temperatures rising across the UAE, especially during summer, access to clean drinking water is more important than ever, for workers, families, children, and the elderly alike. 'In our desert climate, hydration isn't just healthy; it's life-saving,' adds co-founder Bharath Mohan. 'Each bottle we provide is a small act of kindness toward our community.' Ourwatr is more than just a startup, it's a mission in a bottle. Launched by three young, UAE-based entrepreneurs, the idea was sparked by a simple but powerful observation: access to free, convenient hydration isn't always a given. Wanting to change that, the trio built a business with heart at its core. The team is also in talks with various UAE charitable organisations and government agencies to expand its reach and impact. For every bottle distributed, a portion will be donated to local charities, turning everyday hydration into a meaningful act of giving. A Model Built on Purpose and Sustainability Ourwatr isn't just about water, it's about doing good. Instead of selling to consumers, the company partners with brands and organisations who cover the production and distribution costs. In return, sponsors co-brand the bottles, using them as a platform to share positive messages and shared values, while making a real difference. 'Sustainability isn't just about less waste, it's about creating lasting, meaningful change,' explains Sharat Nair, Co-founder. The bottles are crafted from recyclable materials, aligning with the UAE's zero-waste goals and green agenda. Backing UAE Vision 2030 Ourwatr's initiative supports the UAE's Vision 2030 goals around health, sustainability, and quality of life. The startup is already collaborating with local authorities to expand water access and reach as many people as possible. More than just water, Ourwatr is delivering hope, equality, and care, one bottle at a time.
