Qatar’s Rasmal Ventures backs Yuno’s $45 million Series B

Qatar’s Rasmal Ventures has invested in Yuno’s $45 million Series B. Rasmal is the country’s first institutionally backed investment firm and counts the Qatar Investment Authority among the sovereign funds that support it. Yuno, a payments infrastructure company headquartered in Colombia, will use Qatar as its regional hub in the Gulf. Global PayTech Ventures led the round, with participation from Andreessen Horowitz, Tiger Global, QuantumLight Capital, Monashees, Kaszek, and Endeavor Catalyst. Rasmal invested alongside GrowthX Capital, which is itself one of Rasmal’s investors, and Further Ventures, a sovereign-backed firm based in Abu Dhabi.

Rasmal describes itself as an operating partner rather than a passive investor. The firm says it works with Gulf companies before deploying capital, and it sees Yuno as arriving with that work done. Yuno already has a regional office in Qatar. In April 2026, Yuno Payments Arabia was certified as a Payment Technical Service Provider by the Saudi Central Bank. A separate deal with Tap Payments gave Yuno access to local rails — Mada, KNET, and NAPS — across all six GCC countries. Through a buy-now-pay-later partnership with Tabby, Yuno reaches more than 25 million shoppers in Saudi Arabia and the UAE.

Ortega and his co-founder Julián Núñez established Yuno in 2022. The company’s single API gives merchants access to more than 1,000 payment methods and more than 460 integrations across 190 countries. The stack includes intelligent routing, one-click checkout, and AI-driven fraud detection. Yuno says that over the past year it recovered more than $5 billion in transaction volume that would otherwise have failed, lifted authorisation rates by about 5 percent, and saved customers more than $500 million in processing costs. Global brands running on the platform include McDonald’s, NetEase Games, GoFundMe, inDrive, and Rappi.

According to Rasmal partner Soumaya Ben Beya Dridje, the core difficulty in payments is being truly local in every market, and Yuno has managed that at global scale. She called the Gulf one of the world’s fastest-growing payments markets and said its future lies along new trade corridors with Asia, using the same wallets, rails, and shoppers Yuno already links. The bet, she said, is on founders who combine global ambition with financial discipline. GrowthX founder Hamad Al Hajri said he has known Ortega since his time at Rappi, the Colombian company that became the country’s first unicorn. Al Hajri believes Ortega is building his next unicorn with Yuno, this time from the GCC with Qatar as its hub.

Real-time payments in the Middle East are growing faster than anywhere else, according to ACI Worldwide. Ortega said the purpose of this round is to keep pace with existing customers and widen Yuno’s advantage, with a path to profitability in the next year. He added that anyone starting today on the challenge of being local everywhere is at least two years behind. The investment continues Rasmal’s programme of building two-way movement between Gulf markets and international innovation, especially in MENA, Türkiye, and Asia.