Nomba Expands Cross-Border Payment Infrastructure with New Funding

Nigerian fintech startup Nomba has secured a $3 million debt facility from CardinalStone Finance Company Limited to scale its cross-border payment operations. The company, founded in 2017 by Yinka Adewale and Pelumi Aboluwarin (formerly known as Kudi), processes over $480 million monthly and aims to reach $1 billion with this expansion.

The funding will primarily support Nomba’s growth beyond its Democratic Republic of Congo (DRC) base, where it currently facilitates trade between Central Africa and Asia. With the added liquidity, Nomba plans to expand into Zambia, Uganda, and other African markets, strengthening payment links between Africa and key trading partners in Asia.

“African businesses are increasingly engaged in global trade, but the supporting infrastructure hasn’t kept pace,” said Adewale. “This facility provides us with greater flexibility to meet this demand—more liquidity, more corridors, faster settlements.” The company views this as validation of its mission to build modern financial infrastructure for African businesses.

CardinalStone MD Ayoola Adeola echoed this sentiment, stating that the investment reflects confidence in cross-border payments and Nomba’s role in connecting African businesses to global markets. This transaction marks a significant milestone as Nomba continues to evolve into a leading omnichannel payment service provider across Africa.