Paymob has raised $35 million in a Pre-Series C funding round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD). British International Investment (BII), Global Ventures and DPI Ventures also participated in the round.
The Cairo-headquartered fintech plans to use the capital to expand its digital payments acceptance business across the Middle East and North Africa, develop new products for small and medium-sized merchants, and advance its product roadmap for agentic commerce.
Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob provides payments infrastructure that enables merchants to accept online and in-person payments and manage transactions through a single technology platform. Its omnichannel offering provides access to more than 60 payment methods.
Paymob serves more than 390,000 merchants and operates across Egypt and the GCC markets of the UAE, Saudi Arabia and Oman. The company said its consolidated revenue across its four markets tripled over the 18 months preceding the funding announcement, while GCC revenue increased sevenfold.
The financing follows Paymob’s $22 million Series B extension in September 2024, which took its total Series B funding to $72 million. That extension was led by EBRD Venture Capital, with participation from Endeavor Catalyst and existing investors.
