- $1.5 million in Seed funding led by Mercatus Capital.
- Accelerating digital transformation for SMEs across the Gulf region.
- Over 1,600 businesses onboarded with a 40% monthly growth in transaction volume.
Omnispay, a UAE-based FinTech startup specializing in SME payments, has raised $1.5 million in Seed funding led by Mercatus Capital, with participation from regional and international investors.
The funding will accelerate Omnispay’s mission to empower SMEs and drive digital transformation in the Gulf region, helping businesses streamline payments, collections, and cash flow management.
Bridging the SME Payments Gap in the Gulf
Omnispay is addressing a critical gap in B2B payments in the Gulf, where less than 5% of transactions are digital, despite a market opportunity exceeding $1.5 trillion annually. The platform integrates payment collection, disbursement, and financing into a single solution, reducing transaction costs and simplifying cash flow management for SMEs.
According to the company’s press release, Omnispay has successfully onboarded over 1,600 businesses, with a 40% month-over-month growth in processed transactions. The platform supports English, Arabic, and Malayalam, making it accessible to SMEs in the UAE. Notably, 40% of users are accepting digital payments for the first time through Omnispay.
Vimal Kumar, Co-founder & CEO of Omnispay, stated that SMEs make up 94% of all businesses in the UAE and contribute 40% to the GDP.
