NymCard, a fintech platform that operates across more than 10 countries in the MENA region, has successfully secured $33 million in its Series B funding round. This significant investment was spearheaded by QED Investors, which marks their first major funding move in the Gulf region.

Participating in this funding round were several existing investors, including Lunate, Dubai Future District Fund, Mashreq Bank, Knollwood, Reciprocal, FJLabs, and Endeavor. Additionally, new investors such as Oraseya Capital and Shorooq Partners, a well-known regional investment institution, joined the round.

The company plans to utilize the raised funds to enhance its presence in MENA markets and to improve its payment infrastructure solutions, aiming to better serve its customers in the region.