Nomba, a Nigerian fintech that enables businesses to collect payments and access banking services, has raised a $3 million debt facility through CardinalStone Finance Company Limited, the financing arm of CardinalStone Group, to expand its cross-border payments infrastructure across Central Africa.
The company said the debt facility will give it more USD liquidity to deploy through its banking relationships in Hong Kong and Singapore. With more liquidity available across currencies, the company can support more transactions and settle payments to deepen existing trade corridors and expand into new ones.
Nomba’s fundraising comes as the DRC and Asia, particularly China, continue to share a significant commercial relationship. In 2025, trade between China and the DRC reached $26.7 billion, with China importing $21.6 billion from the DRC and exporting $5.1 billion worth of goods to the country. That trade volume presents an opportunity for Nomba, as demand for reliable payment infrastructure surges.
“This facility gives us more room to move — more liquidity, more corridors, faster settlement,” said Yinka Adewale, Nomba’s chief executive officer. “It’s also a strong signal of confidence in what we’re building for the next generation of African businesses. We plan to keep scaling our cross-border infrastructure this year, expanding into new African markets and deepening the payment links between Africa and its trading partners in Asia.”
Founded in 2017 as Kudi.AI, an AI chatbot that helped users process online payments, the company launched an agency banking solution in 2018. It then evolved into a provider of payments and banking services for businesses, generating revenue by charging fees on transactions processed through its platform. In 2023, Nomba raised $30 million in a pre-Series B…
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Read Full Article by Opeyemi Kareem at techcabal.com
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