Numa and Visa Collaborate to Empower MENA Freelancers

Numa and Visa Collaborate to Empower MENA Freelancers

By Press Release, 12 March 2024

Numa, a pioneering fintech startup dedicated to empowering the growth of freelancers and microbusinesses in the Middle East and North Africa (MENA), today announced a new partnership with Visa, a world leader in digital payments.

The "Partner for Growth Agreement" involves a strategic investment aimed at propelling Numa's mission to bridge the financial services gap for freelancers and solo entrepreneurs across key markets, including Jordan, the Kingdom of Saudi Arabia (KSA), and the United Arab Emirates (UAE). 

Since its inception in Jordan, Numa has been at the forefront of financial innovation, offering digital banking solutions such as virtual IBANs and prepaid cards designed specifically for the freelance economy.

This partnership with Visa signifies a major leap forward, allowing Numa to expand its offering to current and future customers across different markets.

A Strategic Leap Forward & Market Expansion

Visa's investment in Numa underscores a shared commitment to fostering financial inclusion and supporting the growing freelance market in the MENA region, estimated to reach $40 billion by 2030.

"Our partnership with Visa is a critical step towards realising our vision of providing comprehensive financial services to freelancers, who have long been underserved by traditional banking systems," said Loay Malahmeh, Founder and CEO of Numa.

The collaboration is expected to fast-track Numa's expansion plans into Saudi Arabia and beyond, leveraging Visa's global expertise in digital payments and Numa's innovative platform. 

Hasan M. Kazmi, Vice President and Head of Digital Partnerships for Visa in the CEMEA region, added, "Visa’s global reach and expertise are a game changer to fintechs eyeing geographical expansion, our strong presence and expertise in the markets where we operate enable our partners to fast-track their expansion plans. Our partnership with Numa not only fosters financial inclusion, but also supports the growing freelance market in the MENA region."

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