Nomba raises $3 million to target Africa–Asia payment corridor

Nomba, a fintech company based in Nigeria, has secured a $3 million debt facility from CardinalStone Finance Company Limited to bolster its cross-border payment infrastructure across Central Africa. This latest funding will provide Nomba with increased liquidity to expand its services in Hong Kong and Singapore, enabling it to support more transactions and settle payments more efficiently.

The rising trade between China and the Democratic Republic of Congo (DRC), valued at $26.7 billion in 2025, presents a significant opportunity for Nomba as demand for reliable payment solutions in the region increases. Nomba's CEO, Yinka Adewale, expressed that the new facility offers more room for expansion, better liquidity, and faster settlement times.

Founded in 2017 as Kudi.AI, Nomba has evolved into a cross-border payment provider for businesses, generating revenue from transaction fees. In 2023, the company raised $30 million in a pre-Series B round, valuing it at over $150 million, which helped it introduce new banking products. Nomba's entry into the DRC market began in 2025 with a focus on remittances, leveraging the high volumes of money transfers between China and the DRC.

The company now offers services such as online and point-of-sale payments, card and mobile money payments, and enables businesses to pay suppliers in Asia. Nomba plans to expand its services to new African markets, including Uganda, Kenya, and Angola, by leveraging cross-border demand to establish new payment corridors. The company aims to continue raising debt in stages, targeting a $1 billion monthly processing capacity in the coming years.