← State of Embedded Finance 2026

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.

Last 12 months
2025-03
2025-11
2026-01
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
Payment Services License
UAE (CBUAE)
NymCard Payment Services LLC
The stack
Payments / PSP
Mastercard Payment Gateway Services (MPGS)Visa DirectMastercard Cross-BordernCore card processing (self-operated)
Banking / BaaS
NymCard nCore (in-house)
Card issuing
NymCard nCore (in-house)
Ledger
NymCard nCore (in-house)
Lending
NymCard Embedded Lending (in-house)BNPLWorking capital loansPOS financingDigital supply chain financingEarly wage accessConsumer lendingSME lendingCredit Decision EnginePremium financing (insurance)
Open banking
NymCard Open Finance (in-house)
FX & payouts
Visa DirectMastercard Cross-BorderFexco Merchant Services (FX rate provider)
Accounting gap: minor