We're thrilled to celebrate a major milestone for one of our own! NymCard, a key member of the WRK+ community and the leading embedded finance platform across 10+ MENA countries, has just secured a significant $33 million in its Series B funding round, led by QED Investors.

This investment isn't just a win for NymCard; it's a testament to the thriving fintech ecosystem we're building right here in the region. QED Investors' decision to lead this round, their most significant investment in MENA to date and their first in the GCC, underscores the growing global confidence in our region's potential.

NymCard's success is rooted in its innovative nCore platform. Unlike others, NymCard owns its processing and switching technology, giving its clients—banks, enterprises, fintechs, and telecom providers—unmatched flexibility and control. This localized, full-stack infrastructure empowers businesses to design, launch, and scale payment programs with ease.

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

The funding will enable NymCard to deepen its presence across MENA, strengthening its payment infrastructure solutions across its three core verticals: Card Issuing Processing, Embedded Lending, and Money Movement. This expansion will further support the region's digital transformation, aligning with initiatives like Saudi Arabia's Vision 2030 and the UAE's focus on digitizing money movement.

"NymCard is a true testament to the ripe and flourishing ecosystem we are seeing across MENA," shares 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."

At WRK+, we're proud to have NymCard as part of our community. Their success story is a shining example of the innovation and entrepreneurial spirit driving growth across the region. We're excited to see how they continue to redefine embedded finance and contribute to the vibrant fintech landscape.

Join us in congratulating NymCard on this incredible achievement! We look forward to witnessing their continued success as they shape the future of finance in MENA.