NymCard raises USD 22.5 mln in funding round

Having a presence in the Middle East and North Africa region, the Banking-as-a-Service provider allows fintech companies to plug and play ready finance into their applications through APIs rather than dealing with complex payment rails.

The company will use its new funds to improve its product development as well as expand its presence in current markets.

Founded in 2018, NymCard’s platform lets fintechs plug and play ready finance into their applications through APIs, which in turn helps their clients focus on their business rather than dealing with complicated payment rails.

The company works with a variety of financial institutions in the MENA region on services that include money transfers, corporate expense cards, on-demand delivery services, Buy Now, Pay Later (BNPL) offerings and youth banking applications.