Nomba Raises $3M Debt to Expand Cross-Border Payments

In Short

• Nomba raised a $3 million debt facility to scale its cross-border payments business.
• It plans to grow monthly volume from $480 million to $1 billion.
• The company is using the Democratic Republic of Congo as its settlement base, then expanding to Zambia and Uganda.

What Happened

Nomba has raised $3 million in debt funding to expand its cross-border payments network, starting with the Democratic Republic of Congo.

The facility was arranged through CardinalStone Finance Company Limited. Debt funding means Nomba borrows money and pays it back over time, instead of selling equity to investors.

Nomba says it processes more than $480 million per month across its DRC operations and a Canadian-licensed money service business. A money service business is a regulated company that can move money for customers, similar to how remittance operators work.

The company said the new facility will improve USD liquidity. Liquidity here means readily available dollars to settle transactions quickly, especially when businesses need fast, near-instant payments across borders.

Nomba’s CEO, Yinka Adewale, said the goal is “more liquidity, more corridors, faster settlement,” with a focus on strengthening Africa to Asia trade routes. The company plans to use the DRC as a base for settling trade flows in Central Africa, then expand to Zambia and Uganda.

Why It Matters

Cross-border payments remain one of the hardest parts of doing business across African markets. FX access can be unreliable, and settlement can take days, which ties up working capital for importers and exporters.

If Nomba can consistently provide faster settlement and predictable USD access, it could reduce delays for SMEs trading with suppliers outside their home countries. That is especially relevant for Africa to Asia commerce, where payment speed and currency availability often decide whether a deal closes.

Nomba also signaled that $3 million is not the end of its funding needs. It expects it may require $20 million to $50 million more in the coming months to hit its $1 billion monthly volume target, even as it says the group is already profitable in its DRC and Nigerian operations.