NymCard
“Can a MENA-native card issuing platform become the embedded finance infrastructure layer for banks, fintechs, and enterprises across the Arab world and Pakistan?”
Founded2018
HQDubai, United Arab Emirates
FoundersOmar Onsi
Total raised~$55M+
Latest roundSeries B, 2025
IndustryInfrastructure / Card issuing
The story
Founded in 2018 by Omar Onsi as a card issuing and processing platform for MENA banks and fintechs. Over time NymCard has expanded the nCore platform from card issuing into a full embedded finance suite — adding money movement (Visa Direct), embedded lending/BNPL, open finance, KYC, and SME spend tools. Now operates as the only multi-country embedded finance platform across 10+ MENA markets and Pakistan, licensed by the Central Bank of the UAE.
Product timeline
2018
Founded by Omar Onsi to modernize card payments in MENA· pivot
2021
Raised $7.6M Series A led by Shorooq Partners· funding
2025
Raised $33M Series B led by QED Investors· funding
2025
Partnered with Visa Direct for cross-border money movement across MENAP· banking
2025
Strategic agreement with Al Dar Exchange (Qatar)· banking
Regulated entities
1
regulatory licence held by NymCard
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
8 layers disclosed in NymCard’s embedded-finance stack
Payments / PSP
Mastercard Payment Gateway Services (MPGS)Visa DirectMastercard Cross-BordernCore card processing (self-operated)
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Lending
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting gap: minor
18 more providers across 7 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.