Nomba raises $3M debt facility from CardinalStone to scale DRC cross-border payments hub targeting $1B monthly volume
Lagos-headquartered fintech Nomba secured a $3 million debt facility from CardinalStone Finance Company Limited to expand its cross-border payments infrastructure operating from the Democratic Republic of Congo. Announced in a statement shared with Nairametrics on Thursday, the funding provides additional US dollar liquidity for Nomba's banking relationships in Hong Kong and Singapore, positioning its DRC operations as a settlement hub for trade between Central Africa and Asia.
The facility aims to help Nomba target more than $1 billion in monthly cross-border payment volume by scaling infrastructure that combines banking rails, global payment access, and local market knowledge. Nomba CEO Yinka Adewale said the facility creates room to move more liquidity across corridors at faster settlement speeds, signalling wider confidence in the company's infrastructure play for African businesses trading globally.
CardinalStone Finance MD Ayoola Adeola noted the transaction reflects confidence in the cross-border payments opportunity and Nomba's positioning within it. The company plans to use its DRC business as a bridge into Central and East Africa, with Zambia and Uganda identified as next expansion markets. Nomba is also preparing to raise a further $20 million to $50 million in coming months to fund additional growth across its cross-border infrastructure.
This latest debt raise builds on Nomba's evolution from agency banking fintech to broader payments infrastructure. In 2023, it raised $30 million in Pre-Series B funding led by Base10 Partners. The company has deepened relationships with traditional financial institutions—its collaboration with Globus Bank processed ₦1 trillion in transactions by October 2025 and was on track to reach ₦10 trillion within 12 months. In January 2026, virtual accounts accounted for 75% of all business payment transactions processed through Nomba's API platform in 2025.
Will this DRC-focused expansion enable Nigerian businesses to access faster, cheaper Asian trade payments, or will infrastructure challenges in Central Africa limit the expected $1B monthly volume target?