Nigerian fintech company Nomba has raised a $3 million debt facility to expand its cross-border payments infrastructure and strengthen payment links between African businesses and Asian markets.
The financing was provided through CardinalStone Finance Company Limited, the financing arm of CardinalStone Group, and will give Nomba additional US dollar liquidity through its banking relationships in Hong Kong and Singapore.
Nomba said the additional liquidity will enable it to support more transactions, settle payments faster and expand existing cross-border payment corridors across Africa.
The funding comes as trade between African countries and Asian markets, particularly China, continues to grow, creating demand for reliable payment infrastructure for businesses trading across borders.
Trade between China and the Democratic Republic of Congo (DRC) reached $26.7 billion in 2025, with China importing $21.6 billion worth of goods from the DRC and exporting $5.1 billion to the country.
Nomba’s chief executive officer, Yinka Adewale said the new facility would give the company more capacity to provide liquidity and settlement services across its growing network.
“This facility gives us more room to move — more liquidity, more corridors, faster settlement,” Adewale said.
He said the company plans to continue expanding into new African markets while deepening payment links between African businesses and their trading partners in Asia.
Nomba entered the DRC in 2025, initially focusing on remittances and recruiting physical agents to handle inflows from high-volume corridors, including China and Dubai.
The company has since expanded its operations in the country to support businesses collecting payments through online channels and point-of-sale terminals, as well as card and mobile money transactions.
Nomba said businesses using its DRC operations can also use the platform to pay suppliers in Asian markets, helping address some of the currency access and settlement challenges associated with cross-border trade.
They said the DRC serves as its entry point into Central Africa as it explores expansion into other markets. It is currently piloting a DRC-to-Zambia payment corridor and is assessing business-to-business payment opportunities linking the DRC with Uganda, Kenya and Angola.
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Ayoola Adeola, managing director of CardinalStone Finance, said the financing reflected the company’s confidence in the growth of cross-border payments and the role of financial infrastructure in connecting African businesses to global markets.
Nomba was founded in 2017 as Kudi.AI before evolving from an AI-powered payment chatbot into a provider of payment and banking services for businesses.
In 2023, the company raised $30 million in a pre-Series B funding round that valued it at more than $150 million.
Nomba said it currently processes more than $480 million in cross-border payments each month through its DRC operations and Canadian-licensed money service business.
The company plans to raise an additional $20 million to $50 million in debt in stages as it seeks to increase its capacity and work towards processing $1 billion in monthly payments.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
