Banking as a service startup NymCard Banking has bagged $7.6m in a Series A funding round.
Shorooq Partners led the raise with participation with OTF Jasoor Ventures and VentureSouq.
NymCard has now raised a total of $12m to date.
Abu Dhabi-based NymCard delivers card-issuing and processing solutions for financial institutions, banks and fintechs in the region.
“We have developed the tech stack ground-up giving us speed and agility that no other legacy player can match,” Omar Onsi, founder and CEO of NymCard. “Over the past two years, we have served regional banks and fintechs where one of our clients today is the fastest-growing issuer in Iraq and is the first neobank in the region.”
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