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Nomod raises $3.4 million seed round at $50m valuation to accelerate growth

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Nomod raises $3.4 million seed round at $50m valuation to accelerate growth
Image courtesy of Nomod
  • UAE-based fintech Nomod, has raised a $3.4 million Seed round with participation from Y Combinator, Global Founders Capital Kingsway Capital, Goodwater Capital, together a few angel investors including one of the founders of Careem.
  • Founded in 2019 by Omar Kassim (who previously founded Jado Pado), Nomod enables merchants around the world to accept card payments on their phone with no extra hardware. The startup was part of Y Combinator’s Summer 2021 batch.
  • Nomod launched its service in March 2021 and has onboarded 4700 merchants across the US, UK and UAE.

Press release:

Nomod, a platform that makes it beautifully easy for merchants around the world to accept card payments on their phone with no extra hardware, has raised a $3.4 million seed round to accelerate growth. 

Nomod was part of Y Combinator’s Summer 2021 batch, and investors in its seed round include Global Founders Capital, Kingsway Capital, Goodwater Capital, together with leading angels including one of the founders of Careem, an early employee from Dropbox, and a partner at DST Global.

Nomod launched in March 2021 and has gained traction across multiple markets, including the US, UK, and the UAE, has acquired over 4700 merchants, and total processed volume has grown 11x since launch.

Nomod was founded in late 2019 by Omar Kassim, a serial startup founder, together with a globally remote team of world class product, engineers and operations specialists. Omar’s previous startup JadoPado, was acquired by Noon, Amazon’s largest competitor in the Mena region. 

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