UAE-based FinTech Omnispay, which provides an all-in-one SME payment platform, has secured $1.5m in a seed funding round.
The investment was led by Mercatus Capital, a Singapore-based venture capital firm, with additional backing from regional and international investors, according to a report from Zawya.
The company aims to address a significant gap in the Gulf Cooperation Council (GCC) region’s B2B payments sector, where digital adoption remains below 5% despite an annual market opportunity of more than $1.5trn. Omnispay’s platform integrates collection, payment, and borrowing solutions to help SMEs streamline cashflow management while reducing transaction costs.
With the fresh capital, Omnispay plans to accelerate its expansion efforts and further its commitment to financial inclusion. The funding will support product enhancements, scaling of operations, and the development of multilingual digital payment solutions to cater to the diverse SME landscape in the UAE and broader GCC region.
Omnispay has already onboarded more than 1,600 businesses and is experiencing 40% month-on-month growth in processed volumes.
The company’s mobile app is the first in the region to support English, Arabic, and Malayalam, enabling broader accessibility for businesses. Notably, 40% of Omnispay’s customers are accepting digital payments for the first time.
Omnispay CEO and co-founder Vimal Kumar said, “SMEs are the backbone of the GCC economy, yet they’ve been underserved by legacy financial tools. By democratizing access to digital payments, we believe we’re fueling regional growth
Simanta Das, co-founder and COO of Omnispay, added, “This seed round serves as a powerful endorsement of omnispay’s vision and market fit.
“We are thrilled to welcome Mercatus Capital and our other investors who share our belief in empowering SMEs through accessible, multilingual, and intelligent payment solutions. Our platform is designed to simplify the entire payment journey – from invoice management and smart efficiency tools to quick settlement, including responsible borrowing options.”
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