Egyptian payments infrastructure provider Paymob has raised $35 million in a pre-Series C funding round to expand its digital payments business across the Middle East and North Africa (MENA). The investment will help the company scale its payment acceptance services and develop new products for small and medium-sized enterprises (SMEs) and agentic commerce.
The round was co-led by Mubadala, the Abu Dhabi-based sovereign investor, and the European Bank for Reconstruction and Development (EBRD). British International Investment (BII), Global Ventures and DPI Ventures also participated.
The funding brings Paymob’s total funding to about $125 million. It follows $72 million raised through its Series B rounds, including $50 million in 2022 and a $22 million extension in 2024.
“This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap,” said Islam Shawky, co-founder and CEO of Paymob.
Expanding Digital Payment Access
The new funding will support Paymob’s expansion as businesses across the region increasingly adopt digital payment solutions. The company provides merchants with payment gateways, point-of-sale (POS) terminals, SoftPOS and payment links.
Its platform supports more than 60 payment methods. This gives businesses different ways to accept payments while managing their financial transactions through one infrastructure.
Paymob was founded in 2015 by Alain El Hajj, Islam Shawky and Mostafa El Menessy. The company now serves more than 390,000 merchants across Egypt, the UAE, Saudi Arabia and Oman.
Its growth has also accelerated in the Gulf. Consolidated revenue across its four markets has tripled over the past 18 months. Revenue from the GCC has increased sevenfold and now accounts for nearly half of the company’s total revenue.
Supporting SMEs and Financial Inclusion
Paymob’s expansion is also linked to the wider growth of digital finance and financial inclusion in the region. The company works with banks, telecom operators, payment schemes and other financial institutions to strengthen the digital payments ecosystem.
In January 2025, Paymob received its Retail Payment Services License from the Central Bank of the UAE. Since then, it has onboarded about 20,000 merchants across its three GCC markets.
The company says its infrastructure is designed to help SMEs and larger businesses accept and manage online payments. It also supports financial service providers across the MENA-P region.
In Egypt, Paymob has played a role in digital financial transformation initiatives supported by the Central Bank of Egypt. Its latest investment is expected to help the company build on that work while expanding access to digital payment tools for businesses across the region.
