NymCard, a UAE-based Banking-as-a-Service (BaaS) supplier, has landed $7.6 million in Collection A funding. The spherical was led by Shorooq Companions, with participation from OTF Jasoor Ventures and VentureSouq.
This brings NymCard’s complete raised funds to $12 million thus far.
Based in 2018 in Abu Dhabi, NymCard specialises in card issuing and processing options for monetary establishments, banks and fintechs in Center East and North Africa (MENA). It says its expertise helps customers to launch “buyer targeted propositions in lower than eight weeks”.
“We’ve got developed the tech stack ground-up, giving us velocity and agility that no different legacy participant can match,” states Omar Onsi, founder and CEO of NymCard. Among the many paytech’s shoppers is “the fastest-growing issuer in Iraq and the primary neo financial institution within the area”, he provides.