# NymCard Payments

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nymcard-payments

- Industry: Software
- Headquarters: Dubai, United Arab Emirates
- Website: www.nymcard.com
- Total disclosed funding: $65M
- Latest round: Series B (Mar 18, 2025)
- Investors on record: 16

## About

Founded in 2018 and based in Abu Dhabi, United Arab Emirates, NymCard Payments LTD was first launched in Lebanon in 2018 and shifted to Abu Dhabi by 2020. The firm also received approvals from the Financial Services Regulatory Authority (FSRA) that enables them to remove the friction from issuing payment cards. NymCard Payments LTD has total funding of USD 13.6 million as of 2021. The firm's platform serves as the bridge that connects financial institutions, banks, and fintech companies to payment networks such as Visa & Mastercard. The firm also delivers virtual cards in-app and processing solutions to be deployed for the end-users within 8 weeks. NymCard Payments LTD solutions also include NymCard Payments Wallet that integrates and aligned in the core banking system and NymCard Dashboards that show payments data, insights, and reports. The company generates revenue by issuing cards starting at USD 250 which can also be used to purchase 3G or 4G, wifi, and banking services. As of 2021, the company plans to use its recent funding for the expansion of the NymCard platform within the MENA region. In March 2025, NymCard Payments LTD raised USD 33 million in series B funding led by QED Investors, with participation from Oraseya Capital, Dubai Future District Fund, Endeavor Catalyst, FJ Labs, Knollwood Investment Advisory, Lunate, Mashreq Bank, Reciprocal Ventures, and Shorooq Partners. The company plans to utilize the March 2025 funding to strengthen presence across over 10 markets in the Middle East and North Africa and enhance payment infrastructure solutions for banks, fintechs, telecom providers, and other enterprises.

## Funding rounds

- Series B, Mar 18, 2025, $33M — Mashreq Bank, QED Investors, Endeavor Catalyst, FJ Labs, Shorooq Partners, Reciprocal Ventures, Knollwood Investment Advisory, Dubai Future District Fund, Lunate, Oraseya Capital
- Series A, Jun 8, 2022, $23M — Endeavor Catalyst, FJ Labs, Knollwood Investment Advisory, Shorooq Partners, Reciprocal Ventures, OTF Jasoor Ventures, DisruptAD, Chimera Wealth
- Series A, Nov 1, 2021 — Shorooq Partners
- Series A, Jan 31, 2021, $7.6M — Shorooq Partners, VentureSouq, Oman Technology Fund
- Seed, Aug 1, 2019, $1.5M — B&Y Venture Partners

## Investors

- B&Y Venture Partners (https://capitalatlas.ai/funds/b-y-venture-partners) — Seed
- Shorooq Partners (https://capitalatlas.ai/funds/shorooq-partners) — Series A, Series B
- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Series A
- Oman Technology Fund (https://capitalatlas.ai/funds/oman-technology-fund) — Series A
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series A, Series B
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A, Series B
- Knollwood Investment Advisory — Series A, Series B
- Reciprocal Ventures (https://capitalatlas.ai/funds/reciprocal-ventures) — Series A, Series B
- OTF Jasoor Ventures — Series A
- DisruptAD (https://capitalatlas.ai/funds/disruptad) — Series A
- Chimera Wealth — Series A
- Mashreq Bank — Series B
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series B
- Dubai Future District Fund (https://capitalatlas.ai/funds/dubai-future-district-fund) — Series B
- Lunate (https://capitalatlas.ai/funds/lunate) — Series B
- Oraseya Capital (https://capitalatlas.ai/funds/oraseya-capital) — Series B