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§ Private Profile · Dubai, United Arab Emirates
The UAE’s leading small business payments platform
Nomod has raised $3.0M across 1 funding round.
Key people at Nomod.
Nomod was founded in 2021 by Omar Kassim (Founder).
Nomod has raised $3.0M in total across 1 funding round.
Nomod is the UAE’s leading payments platform for small businesses : powering 40,000+ merchants, and processing $350M+ in annualised TPV
Nomod was founded in 2021 by Omar Kassim (Founder).
Nomod has raised $3.0M in total across 1 funding round.
Nomod's investors include Global Founders Capital, Ecliptic Capital, Rebel Fund, Y Combinator, Pierre Lavaux, Goodwater Capital, Kingsway Capital.
Key people at Nomod.
Nomod has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in November 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2021 | $3M Seed | Global Founders Capital | Ecliptic Capital, Rebel Fund, Y Combinator, Pierre Lavaux, Goodwater Capital, Kingsway Capital | Announced |
Nomod is the UAE’s leading payments platform tailored for small businesses, powering over 40,000 merchants and processing more than $350 million in annualized total payment volume. It offers a comprehensive payment solution that enables merchants to accept payments without the need for hardware, using payment links, in-person payments, QR codes, and major card networks including Apple Pay and Google Pay. Nomod serves small and medium-sized enterprises (SMEs) primarily in the UAE and the broader MENA region, addressing the challenge of complex, costly, and hardware-dependent payment acceptance. Its platform simplifies onboarding, allowing merchants to start processing payments within minutes, and supports multiple currencies and payment methods, enhancing cash flow with same-day payouts and transparent pricing[1][2][3][4].
Founded in 2021 by Omar Kassim, a serial entrepreneur with a background in electronics engineering and business studies from the University of Warwick, Nomod emerged from the founder’s previous success with JadoPado, a MENA e-commerce platform acquired by Noon.com. The idea was born from the need to simplify payment acceptance for small businesses, inspired by the founder’s observation of fintech transaction habits in emerging markets like the UAE, where wallets and tokens are prevalent and hardware is often a barrier. Early traction included raising $3.4 million in seed funding and quickly building a merchant base across the UAE and other markets such as Saudi Arabia and Bangladesh. The company is headquartered in Dubai with a team of 65 employees and is part of Y Combinator’s Summer 2021 batch[1][2][6].
Nomod rides the global fintech trend of democratizing financial services for SMEs, particularly in emerging markets where traditional banking and payment infrastructure can be cumbersome or expensive. The timing is critical as digital commerce and contactless payments accelerate in the MENA region, driven by increased smartphone penetration and a growing entrepreneurial ecosystem. Nomod’s hardware-free, payment-links-first approach aligns with evolving consumer behaviors favoring mobile and contactless payments. By simplifying payments and expanding financial services like lending and accounts, Nomod is helping to rewrite the financial operating system for small businesses, fostering greater financial inclusion and enabling faster business growth in the region and beyond[2][6].
Nomod is well-positioned to expand its footprint beyond the UAE into other emerging markets, leveraging its scalable, hardware-free payment platform and growing merchant base. Future developments likely include expanding financial services such as credit and money management tools, deepening integrations with global payment networks, and optimizing for local currencies in more countries. As digital payments continue to disrupt traditional banking, Nomod’s influence is expected to grow, potentially becoming a foundational financial platform for SMEs in emerging economies. The company’s focus on speed, ease of use, and transparent pricing will remain key competitive advantages as it scales[2][6]. This trajectory ties back to its mission of empowering millions of entrepreneurs worldwide with accessible, efficient payment and financial tools.
