Nomod provides a platform that lets merchants process in-person payments and payment links on their phones, removing the need for card terminals. The app supports Visa, Mastercard, American Express and UnionPay, contactless NFC and QR payments, and lets merchants charge in over 135 currencies. Payments are the company’s acquisition flywheel as it builds a broader financial operating system offering accounts, cards, local payment networks and lending. Nomod has focused early acquisition in MENA and the GCC (notably Saudi Arabia, the UAE and Bangladesh) while allowing sign-ups from 44 countries and testing in Nigeria and South Africa. The startup can acquire and settle merchants in local currencies in the U.S., U.K. and UAE today and applies FX costs in some other markets until local settlement is enabled. Since its March 2021 launch Nomod has acquired nearly 4,500 merchants, grown processed volume 11.5x, and is on an annualized run rate of $7 million.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Nov 2021