A Bold Move Towards Digital B2B Payments
UAE-based fintech omnispay has secured $1.5 million in seed funding, with Mercatus Capital leading the round alongside regional and international investors. The investment will fuel omnispay’s mission to simplify SME cash flow management through its all-in-one platform, addressing a major gap in the GCC’s $1.5 trillion B2B payments market.
Founded in 2022 by Simanta Das, Vimal Kumar, and Praveen Kiran, omnispay is on a mission to digitize SME payments, offering businesses a seamless way to collect, pay, and borrow—all in one platform. The startup has already onboarded 1,600+ businesses, with a 40% month-on-month growth in processed volumes.
The Urgent Need for SME Payment Innovation
Despite SMEs making up 94% of businesses and generating 40% of GDP in the UAE, less than 5% of B2B transactions are digital. This is where omnispay sees a massive opportunity.
“SMEs are the backbone of the GCC economy, yet they’ve been underserved by outdated financial tools,” says Vimal Kumar, Co-Founder & CEO. “By democratizing access to digital payments, we’re not just helping businesses—we’re fueling regional economic growth.”
Where does omnispay come in?
While competitors often focus solely on collections, omnispay offers an integrated solution:
- COLLECT – Digital invoicing & real-time payments
- PAY – Multiple disbursement options
- BORROW – Future micro-lending functionality
This holistic approach ensures SMEs reduce transaction costs, improve cash flow, and gain a competitive edge in a digital-first economy.
Rapid Growth & Market Validation for omnispay
With 1,600+ businesses onboarded and a 5-star rating on Google, omnispay is rapidly becoming the go-to platform for SMEs. Impressively, 40% of its users are accepting digital payments for the first time.
“This funding round is a strong validation of omnispay’s market fit,” says Simanta Das, Co-Founder & COO. “Our platform simplifies the entire payment journey, from invoice management to quick settlement—while breaking language barriers with support for English, Arabic, and Malayalam.”
Post-pandemic, SME adoption of digital payments surged by 60%, but B2B payments still lag behind B2C. Therefore, omnispay aims to bridge this gap and accelerate the GCC’s digital transformation agenda.
What’s Next for omnispay?
With fresh capital, omnispay plans to:
- Expand its reach across the UAE and GCC
- Enhance AI-powered automation for cash flow optimization
- Roll out embedded finance & micro-lending capabilities
“The future of SME finance is seamless, intelligent, and accessible,” says Vimal. “We’re just getting started.”
As omnispay scales, it stays focused on redefining SME payments, empowering thousands of businesses to operate with greater financial efficiency and stability.
