Nomba secures $3M debt facility in cross
Fintech firm Nomba has secured a $3 million debt facility to expand its cross-border payment infrastructure between Africa and Asia. The funding aims to improve liquidity and settlement speeds for businesses operating in the DRC and beyond.
Why it matters
Addresses critical infrastructure gaps in African trade, facilitating easier financial transactions between emerging markets.
Nomba has raised a $3 million debt facility through CardinalStone Finance Company Limited to expand its cross-border payments infrastructure out of the Democratic Republic of Congo (DRC), its base for settling trade between Central Africa and Asia.
Across its DRC operations and Canadian-licensed money service business, Nomba processes more than $480 million a month, according to a statement shared with Condia. The funding provides Nomba with greater USD liquidity needed to power its near-instant cross-border payment network, as it targets over $1 billion in monthly cross-border volume.
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