back Back

Nomba raises $30m to streamline payment solutions

By Delisha Fernandes

May 02, 2023

  • African
  • B2B Payment Solutions
  • Banking
Share

NombaNomba, a payment service provider, has raised a $30 million Pre-Series B funding round to support delivering bespoke payment solutions for African businesses.

The oversubscribed equity funding round was led by San Francisco-based Base10 Partners (investors in Nubank, Plaid and Brex), with participation from Helios Digital Ventures, Shopify, Partech, and Khosla Ventures.

The company will use this new funding to deliver payment solutions designed for businesses’ specific services, enabling them to plug gaps in their payment processes, operate more efficiently and have excellent customer experiences.

Yinka Adewale, CEO and co-founder of Nomba said, “We see payment as a business model, not just a product, and we want to make it easier for businesses to take advantage of all that is possible in their payment processes to support their continued growth and success. We have a long list of products we have been working on, and the funds we have raised and the investors that have backed us give us a lot of confidence about what can be achieved with more effective payment solutions in the hands of business owners.”

The company supports more than 300,000 businesses with a wide range of payment solutions, as well as management and banking tools that enable better business processes and support business owners to be better at doing business.

Luci Fonseca, Partner at Base10, said, “Nomba’s track record of innovation and capital efficiency makes it one of the most exciting startups in Africa. We are thrilled to be supporting them to deliver their game-changing solutions to power growth and continued success for businesses in Nigeria and beyond.”

Previous Article

May 02, 2023

AEG partners with Microsoft & Crayon to modernise SWIFT infrastructure

Read More
Next Article

May 02, 2023

xCube launches a new trading platform in the UAE

Read More








IBSi Daily News Analysis

March 22, 2024

African

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

5 Major FinTech Acquisitions announced in March 2024

Read More

Today

Tempo France suspends classical remittances, to focus on DeFi

Read More

Today

Qonto unveils its first in-house financing offer, ‘Pay later’

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023