Egypt-founded fintech 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).
The round also saw participation from British International Investment (BII), Global Ventures, and DPI Ventures, bringing Paymob’s total disclosed funding to more than $125 million.
Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob provides an omnichannel payments infrastructure platform that enables businesses to accept online and offline payments through a single technology layer.
The company currently serves more than 390,000 merchants across Egypt, the UAE, Saudi Arabia, and Oman, providing access to more than 60 payment methods through one contract, API, settlement cycle, and dashboard.
Paymob plans to use the new capital to accelerate its expansion across the MENA region, scale its core digital payments acceptance business, and introduce new products tailored to SME merchants. The company is also developing its infrastructure to support agentic commerce, where AI-powered agents can increasingly participate in transactions on behalf of consumers and businesses.
GCC Business Drives Growth
The investment follows a period of significant regional growth for Paymob. Over the past 18 months, the company says its consolidated revenue across its four markets has tripled, while revenue from GCC markets has grown sevenfold.
Nearly half of Paymob’s total revenue is now generated from the GCC.
Since receiving its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, Paymob has also onboarded approximately 20,000 merchants across its three GCC markets.
The latest financing follows Paymob’s $50 million Series B in 2022 and a $22 million Series B extension in 2024, which was led by EBRD.
Paymob’s broader investor base includes PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, Helios Digital Ventures, British International Investment, Global Ventures and DPI Ventures.
The new round further strengthens Paymob’s push to position itself as a regional payments infrastructure platform as it expands its footprint across the GCC and wider MENA market.
