NymCard Raises $33M Series B to Expand Embedded Finance Across MENA

On March 19, 2025, NymCard announced a $33 million Series B funding round led by QED Investors. The capital will be used to expand the company's embedded finance platform across more than 10 countries in the MENA region. NymCard's proprietary nCore platform provides a suite of services including card issuing, card processing, embedded lending, and money movement solutions.

QED Investors, a prominent fintech-focused venture capital firm, led the round, signaling strong investor confidence in the MENA embedded finance opportunity. The funding will help NymCard scale its infrastructure and onboard more banks, fintechs, and enterprises seeking to embed financial services into their products. The round positions NymCard as one of the most well-funded BaaS providers in the Middle East and North Africa, where digital payments adoption continues to accelerate.

Financial terms beyond the headline amount were not disclosed.