Omnispay Bags US$1.5 Million Seed Led By Mercatus Capital

Omnispay, a UAE-based fintech company that provides comprehensive digital payment solutions tailored to small and medium enterprises (SMEs) in the Middle East and Africa (MEA) region, has secured US$1.5 million in a seed funding round.

The investment was led by Singapore’s Mercatus Capital Pte. Ltd., with backing from regional and international investors. The funding will fast-track Omnispay’s efforts to equip SMEs with a comprehensive platform for payments, collections, and cash flow management while driving digital transformation across the GCC. 

Established by Simanta Das, Vimal Kumar, and Praveen Kiran in 2022, Omnispay addresses the gap in the GCC’s business-to-business (B2B) payments sector, where less than five percent of transactions are digitized in spite of a $1.5 trillion opportunity.

The company integrates collect, pay, and borrow features to cut costs, streamline cash flow, and give SMEs a digital edge. With 40 percent monthly growth in transaction volume, it has onboarded more than 1,600 businesses with its mobile app, which is available in English, Arabic, and Malayalam, with 40 percent of its users accepting digital payments for the first time. 

Commenting on the funding in an interview with Inc. Arabia, Kumar, co-founder and CEO of Omnispay, said that, beyond providing capital, Mercatus Capital will play a pivotal role as a strategic enabler in helping Omnispay scale. “We don’t measure success by how fast we scale, but by how sustainably we build," he said. "Mercatus aligns with that vision — growth that’s meaningful, profitable, and built to last."

From Kumar's perspective, Mercatus Capital’s hands-on mentorship will also help Omnispay navigate key challenges like talent acquisition, regulatory compliance, and market entry. "Rather than chasing vanity metrics, they emphasize scalability, profitability, and long-term impact — ensuring Omnispay becomes a market-defining fintech leader,” he added. 

Kumar also revealed that the new influx of funds will be allocated to product innovation and development. "We are enhancing our payment stack to offer SMEs a seamless, efficient, and scalable financial ecosystem,” Kumar said, noting that this will include cross-border payouts to simplify international transactions, easy-to-integrate application programming interfaces (APIs) that embed financial services directly into business workflows, as well as artificial intelligence (AI)-driven capabilities that enable real-time fraud detection, invoice reconciliation, and predictive analytics. 

Additionally, Omnispay is focused on optimizing user experience, ensuring faster onboarding, intuitive interfaces, and seamless integration with accounting tools. "We’re also investing in scalability initiatives, ensuring we can handle exponential transaction growth, while maintaining top-tier security and performance," Kumar said. 

According to Kumar, the GCC’s B2B payments landscape is undergoing a major transformation, and that digitizing payments for SMEs has become key to economic growth. “SMEs are the backbone of the GCC economy," he said. "Empowering them with digital payments isn’t an option — it’s an economic necessity.”

Such a shift, Kumar added, will eliminate manual inefficiencies, provide real-time cash flow insights, and enhance financial forecasting. He explained that accelerating adoption requires a regulatory push, with e-invoicing mandates, real-time payments, and open banking frameworks paving the way. Education and awareness are also crucial, as many SMEs underestimate the cost of manual processes. 

But for Kumar, driving digital adoption requires more than just technology. “Technology alone doesn’t drive adoption — trust, education, and real-world impact do," he said. "That’s why we’re committed to walking this journey alongside SMEs." As such, to acquire customers, Omnispay focuses on educating and empowering SMEs through digital content, case studies, and interactive workshops.

The company also prioritizes localized events and direct engagement, meeting business owners where they are to ensure a seamless transition to digital payments. Additionally, Omnispay is scaling its customer success team to provide dedicated onboarding, personalized training, and continuous support for new clients.

Kumar noted that strategic partnerships are key to expanding financial access for SMEs, bridging the gap between technology and real-world business needs. “A great fintech isn’t just a platform — it’s a bridge that connects SMEs to financial opportunities they never had before,” he said. And to build this bridge, Kumar is collaborating with accounting platforms, e-commerce marketplaces, and enterprise resource planning (ERP) providers to create an integrated financial hub. The company is also working with banks and fintech accelerators to reach underserved entrepreneurs, ensuring more SMEs can benefit from digital financial solutions. 

Omnispay also has plans to introduce a micro-lending product, Borrow, which is designed to eliminate cash flow bottlenecks, helping SMEs seize opportunities, manage unexpected expenses, and scale with confidence. “SMEs deserve lending solutions that are clear, fair, and built for them — not a relic of the traditional banking system,” he said. Powered by AI-driven credit assessments, Borrow will thus offer instant lending decisions based on real-time transaction data, without paperwork or delays, and flexible repayments, adapting to an SME’s cash flow through structured installments or revenue-based options.  

Beyond traditional lending, Omnispay is also partnering with banks, fintech lenders, and alternative finance providers to expand funding access and create tailored lending solutions “We’re not just offering loans — we’re removing financial barriers so SMEs can focus on what really matters: growth,” Kumar said, noting that success in this regard will depend on seamless, user-friendly technology that enables SMEs to integrate digital solutions effortlessly. “If you want SMEs to go digital, don’t make them learn a new system — integrate into what they already know and trust," he explained. 

Looking ahead, Kumar anticipates that the next 3-5 years will see a surge in digital B2B transactions, driven by cloud-based fintech solutions, real-time cross-border payments, and AI-powered financial automation. “Digitization isn’t just about payments—it’s about powering a smarter, more connected SME economy,” he explained.  

As for those looking to build a fintech startup in the Middle East, he recommends that founders master strategy and develop a deep understanding of the region’s unique landscape, remaining agile if they want to succeed. “If you’re serious about fintech in the Middle East, be ready to build, adapt, and disrupt — because the future is being written right now,” he said. 

Additionally, he told us that understanding the regulatory landscape for each country is crucial, as jurisdictions like Dubai International Financial Centre (DIFC), Abu Dhabi Global Market (ADGM), and the Saudi Central Bank (formerly Saudi Arabian Monetary Authority or SAMA) each have their unique nuances. To address this, he recommends partnering with regulators and compliance experts to turn regulation from a challenge into an advantage.

“Regulation isn’t a roadblock—it’s your biggest competitive advantage if you get it right,” he stated. Beyond that, Kumar also underscored the importance of strategic partnerships with banks, telcos, and e-commerce platforms to accelerate growth, noting, “Your product is only as strong as your ecosystem of partners.”   

Localization is another key pillar for success, he told us, stressing that the Middle East is not a one-size-fits-all market, and that fintechs must adapt to regional payment behaviors and economic trends to thrive. To stay ahead, Kumar believes fintech startups must harness data and AI to anticipate market shifts and respond with agility.

“The Middle East is one of the most exciting fintech frontiers in the world," Kumar said. "But success lies in understanding, adapting, and executing with precision." However, Kumar also noted that technology alone isn’t enough, and that teams must be willing to invest in local talent if they want to grow. “Your people are your greatest differentiator," he said. "Invest in them before anything else.” 

Pictured in image is Vimal Kumar, co-founder and CEO of Omnispay. Image courtesy Omnispay.