NymCard Raises $7.6M to Expand Banking-as-a-Service in MENA

NymCard, a UAE-based Banking-as-a-Service provider, raised $7.6 million in a funding round reported in February 2021 to scale its BaaS platform across the MENA region. The company provides card issuing and processing infrastructure that enables fintechs and businesses to embed financial services. Alongside the funding, NymCard launched fully public APIs on February 23, 2021, aiming to lower barriers for fintechs seeking to build on its platform.

The fundraise positions NymCard as a key BaaS infrastructure player in a region with rapidly growing fintech demand. Financial terms beyond the headline figure were not disclosed in detail. The investment underscores increasing investor interest in BaaS platforms serving emerging markets outside the US and Europe.