Omnispay Secures $1.5 Million Seed Funding Led by Mercatus Capital

Omnispay, a UAE-based fintech company focused on SME payment innovation, has announced the successful closure of a $1.5 million seed funding round. The funding was led by Singapore's Mercatus Capital, alongside other regional and international investors. Omnispay's platform addresses the significant gap in the GCC’s B2B payment landscape, where a large majority of transactions remain non-digital. By integrating Collect, Pay, and Borrow functionalities, Omnispay offers SMEs an efficient digital payment solution that reduces transaction costs and facilitates cash flow management. The platform, which supports multiple languages like English, Arabic, and Malayalam, has rapidly garnered a strong customer base of over 1,600 businesses with 40% month-on-month growth in transaction volumes. Vimal Kumar, Co-Founder & CEO of Omnispay, highlighted the crucial role of SMEs in the UAE's economy and stressed the company's commitment to supporting these enterprises through accessible digital payments which are aligned with the GCC's digital transformation goals. The seed funding serves as an endorsement of Omnispay's strategic vision and capacity to bridge the existing digital payment gap for SMEs.