Search Results for "MENA"
20 results for "MENA"
Deals 20
Bank ABC Sponsors Fintech Forward 2025 to Advance MENA Digital Banking
Bank ABC became the Platinum Sponsor of Fintech Forward 2025, held October 8-9 in Bahrain. The sponsorship highlights the bank's commitment to digital transformation and fintech collaboration through its mobile-only bank, ila. The event focuses on Fin-AI integration and open banking in the MENA region.
Riyadh-Based Spare Raises $5M for Open Finance Infrastructure
Spare, a Riyadh-based open banking infrastructure startup, raised $5 million in a pre-Series A round. The company enables fintechs and businesses to build financial services through its open finance platform. The funding will accelerate product development and expansion of its API-driven banking infrastructure in the MENA region.
Saudi Fintech Bwatech Raises $16M for Digital Banking Infrastructure
Saudi-based fintech Bwatech raised $16 million in a round led by Sharaka Financial to expand its digital bank guarantees, account management, and open banking platform. The company provides integrated banking infrastructure services in the MENA region. The deal reflects growing embedded finance activity in Saudi Arabia's rapidly developing fintech ecosystem.
Uptex Bank in Oman Integrates Tuum Core Banking Platform
Uptex Bank in Oman integrated Tuum's core banking platform to support digital wallet and multi-currency payment services. The platform is planned to launch within months, marking Tuum's expansion into the MENA region.
NymCard Raises $33M Series B to Expand Embedded Finance Across MENA
NymCard secured $33 million in Series B funding led by QED Investors to expand its embedded finance platform across more than 10 MENA countries. The company's proprietary nCore platform offers card issuing, processing, embedded lending, and money movement capabilities. This round strengthens MENA's payments infrastructure and positions NymCard as a leading regional BaaS provider.
Faysal Bank and NymCard Partner for BaaS Platform in Pakistan
Faysal Bank partnered with NymCard to enable a banking-as-a-service platform in Pakistan. The collaboration aims to drive financial innovation by combining Faysal Bank's local banking infrastructure with NymCard's card issuance and BaaS technology. This marks a significant embedded finance development in the MENA/APAC region.
Pemo Raises $7M Pre-Series A for Spend Management and Corporate Cards
Pemo, a spend management and corporate card provider, raised $7M in a pre-Series A round led by Shorooq Partners and Augmentum Fintech. The company offers embedded financial tools for corporate expense management. The round supports expansion in the MENA market.
Paymob Raises $22M Series B Extension to Expand B2B Merchant Payments
Egypt-based B2B merchant payments platform Paymob raised $22 million in a Series B extension in September 2024. The funding supports the company's expansion into GCC markets. Paymob provides payment acceptance infrastructure for merchants across the MENA region, enabling embedded payment capabilities.
Arab Bank's Acabes Launches BaaS API Platform for MENA Markets
Arab Bank's fintech arm Acabes launched a Banking-as-a-Service API platform targeting the Middle East and North Africa region. The platform enables third parties to access banking services via APIs. This represents a significant BaaS expansion by a major traditional bank into the MENA market.
PayTabs Group Partners with Fintech Galaxy for GCC Open Banking and Payments
PayTabs Group and Fintech Galaxy announced a partnership integrating PayTabs' payment orchestration middleware with Fintech Galaxy's FINX open banking platform. The deal targets SMEs and enterprises in Saudi Arabia and the UAE with services including account verification, A2A payments, and POS-based lending. The partnership aligns with evolving MENA open banking regulations, including SAMA's Q1 2024 specifications.
Saudi Arabia's Tameed Raises $15M for Shariah-Compliant SME Financing
Tameed raised $15M (SAR 56.75M) in a Series A round in January 2024 for its Shariah-compliant SME financing platform in Saudi Arabia. The company provides embedded lending solutions tailored to the MENA market's regulatory and cultural requirements. The round reflects growing demand for embedded Islamic finance infrastructure.
Egypt's Zeal Raises $4M for Embedded Payment Solutions for Retailers
Zeal, an Egyptian fintech, raised $4M in January 2024 to expand its embedded payment solutions for retailers. The company enables merchants to accept digital payments, addressing the underbanked MENA market. The round supports Zeal's efforts to embed financial services into retail commerce.
Mastercard Partners with Areeba for Card-as-a-Service in the Middle East
Mastercard partnered with Areeba to enable modern payment platforms for fintechs in the Middle East through a Card-as-a-Service offering. The collaboration allows fintechs to issue cards and build payment solutions on Areeba's platform with Mastercard's network. This expands embedded finance infrastructure in the MENA region.
Tarabut Gateway Raises $32M Series A for MENA Open Banking Infrastructure
Tarabut Gateway, a MENA-focused open banking platform, closed a $32 million Series A led by Pinnacle Capital with participation from Aljazira Capital, Visa, and Tiger Global. The platform connects banks and fintechs via APIs, functioning as BaaS-adjacent infrastructure. Proceeds will fund expansion in Saudi Arabia.
NymCard Partners with Visa to Enable MENA Fintechs to Launch Card Programs
MENA-based BaaS provider NymCard signed a strategic partnership with Visa to support fintechs across the Middle East, North Africa, and Pakistan. The collaboration enables fintechs to launch payment programs with marketing support, consultancy, and industry expertise. NymCard's platform allows fintechs to deploy card, account, and IBAN services without managing complex payment infrastructure.
Mashreqbank Takes Stake in BaaS Provider NymCard
Mashreqbank acquired a stake in NymCard, a MENA-focused banking-as-a-service provider. The investment reflects growing bank interest in BaaS infrastructure across the Middle East. NymCard enables fintechs and enterprises to embed card and payment products via APIs.
Fintech Galaxy Closes $2M Seed Round for MENA Open Finance Platform
UAE-based open finance platform Fintech Galaxy closed a $2 million seed round led by Jordan's Ahli Fintech. The platform provides API-based integration between fintech startups and financial institutions. The investment supports Fintech Galaxy's financial inclusion mission and open banking expansion across the MENA region.
NymCard Partners with Gate to Pay for BaaS Card Issuing in Jordan
NymCard partnered with Gate to Pay in Jordan to provide fast-track card issuing via its BaaS platform. The partnership supports fintechs with customizable virtual and physical payment cards. This move strengthens NymCard's position in the MENA fintech ecosystem.
Finastra Showcases Open Banking Platform at DIFC Innovation Month
Finastra showcased its FusionFabric.cloud open banking platform during DIFC Innovation Month in Dubai. The event on June 16 highlighted API-driven tools for retail banking and payments aimed at empowering fintechs. The showcase underscores growing open banking and embedded finance momentum in the MENA region.
NymCard Launches Fully Public Open APIs for MENA Card Issuing BaaS
UAE-based BaaS provider NymCard launched its fully public Open API platform for payment card processing and issuing. The launch enables fintechs and businesses across the MENA region to integrate card programs via self-service APIs. This marks a significant step toward opening up card-issuing infrastructure in a region with growing fintech demand.