UAE fintech omnispay raises $2 million pre-Series A
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- omnispay has raised $2 million in a pre-Series A round, led by Infinity Value Capital Group.
- Founded in 2022 by Simanta Das, Vimal Kumar and Praveen Kiran, the UAE-based fintech is evolving from SME payments into a full SME finance platform, covering cash flow, collections, payments, and embedded credit.
- Use of funds: product expansion, embedded credit capabilities, and GCC growth, including Saudi Arabia.
- Last year, omnispay closed $1.5 million in a seed funding round led by Mercatus Capital Pte. Ltd.
Press release:
omnispay, a UAE-based fintech focused on SME payments, has closed a $2 million Pre-Series A funding round, led by Infinity Value Capital Group.
The funding will support omnispay’s transition from a rapid-settlement payments provider into a broader SME finance platform, expanding its offering to include cash-flow management and embedded credit through integrated collect, pay, and borrow workflows.
Over the past 12 months, omnispay has doubled its customer base, quadrupled transaction volumes, and achieved 5.5x revenue growth, while maintaining operational discipline, with expenses increasing by 2.2x. The company attributes its performance to a data-driven operating model and a strong focus on merchant experience.
At the core of omnispay’s platform is ARIES, its proprietary AI-powered risk engine, which monitors transactions in real time to manage credit and fraud risk. The company also reports a Net Promoter Score (NPS) exceeding 60, reflecting strong customer satisfaction among SMEs.
According to omnispay, the platform has enabled merchants to improve liquidity and fund business expansion. One customer, UAE-based project management firm GForm, used next-day settlements to overcome cash-flow constraints and support a physical expansion.
With the new capital, omnispay plans to expand across the GCC, including entering Saudi Arabia, while building a broader ecosystem of distribution and lending partners to support SME growth in the region.