Nomba, a Lagos-headquartered fintech, has secured a $3 million debt facility from CardinalStone Finance Company Limited to expand its cross-border payment infrastructure between Africa and Asia. The funding will improve United States dollar liquidity and accelerate settlement through its Democratic Republic of Congo and Canadian licensed money service operations. Nomba processes more than $480 million in monthly cross-border volume and is targeting over $1 billion per month.
Funding Purpose and Strategic Deployment
The facility will strengthen Nomba's payment rails and deepen United States dollar liquidity rather than fund general operations. The capital will be deployed through the Democratic Republic of Congo operation, which serves as a settlement base for trade between Central Africa and Asia. Ayoola Adeola, Managing Director of CardinalStone Finance, said the transaction reflects confidence in cross-border payments and the role of financial infrastructure in connecting African businesses to global markets.
Operational Scale and Regulatory Progress
Nomba went live in the DRC in November 2025 after a year building agent networks in Kinshasa and later secured regulatory approval for international money transfers. Across its DRC operations and Canadian licensed money service business, Nomba processes more than $480 million a month, or roughly $5.8 billion annually. The $3 million facility is a working capital line for liquidity, and the company says it is profitable across the group.
Executive Perspective and Infrastructure
Chief Executive Officer Yinka Adewale said African businesses are trading more globally while the supporting infrastructure is still catching up. He described the facility as a strong signal of confidence that provides more room for liquidity, corridors, and faster settlement. Over the past 18 months, Nomba has combined banking rails, global payment access, and local market knowledge to help businesses move money across borders.
Reducing Friction in Africa Asia Trade
Cross-border trade remains one of the fastest growing parts of the African economy, but payment infrastructure has not kept pace. Asia, particularly China, is a major supplier of machinery, electronics, and consumer goods to Nigerian importers. By building dedicated payment rails, Nomba aims to offer smaller businesses faster settlement windows and more competitive exchange rates than traditional banks.
Debt Financing and Market Context
The transaction reflects a broader shift among African fintechs toward debt instruments that fund expansion while limiting founder dilution. Nomba has not disclosed the interest terms or repayment tenure, but the capital will be deployed immediately into its payment architecture. The company will integrate the expanded capabilities into its business app so merchants can manage local collections and international vendor payments from one interface.
Competitive Landscape and Expansion
Competitors such as Flutterwave and Chipper Cash have expanded into international corridors to diversify revenue and reduce dependence on the Nigerian naira. Nomba is preparing to raise a further $20 million to $50 million to support its expansion. It has named Zambia and Uganda as the next markets while using the DRC as a bridge into Central and East Africa.
Company Background
Nomba was founded in 2016 as Kudi by Yinka Adewale and Pelumi Aboluwarin, starting as a payments chatbot before moving into agency banking and point of sale services. The company rebranded in 2022 and raised a $30 million pre-Series B round in May 2023. In February, it acquired a Canadian payments company and committed up to $2 million to support Canadian dollar accounts and settlement into African currencies.
With the $3 million debt facility, Nomba gains additional liquidity to expand an already significant payment network. Its profitability and regulatory approvals provide a stable base for entering new markets and pursuing a larger capital raise. The company aims to capture a growing share of global trade payments between Africa and Asia.