Paymob Raises $35 Million to Accelerate Expansion in the Region

• Paymob, the payment infrastructure company founded in Egypt, has raised $35 million in a pre-Series C funding round co-led by Mubadala Investment and the European Bank for Reconstruction and Development (EBRD), with participation from British International Investment (BII), Global Ventures, and DPI Ventures.
• Founded in 2015 by Islam Shawki, Alan Hage, and Mustafa Menisi, Paymob provides an integrated payment platform that enables businesses to accept payments online and at points of sale, accessing over 60 payment methods through a unified technical layer. The company currently serves over 390,000 merchants in Egypt, the UAE, Saudi Arabia, and Oman.
• Paymob will use the new funding to expand its digital payment acceptance business in the Middle East and North Africa, and to develop new products aimed at small and medium-sized enterprises and agentic commerce supported by artificial intelligence.
• This new round brings Paymob's total announced funding to over $125 million, following a $50 million Series B round in 2022 and a $22 million extension round led by EBRD in 2024.

Press Release:

Paymob, one of the leading providers of digital payment infrastructure services in the Middle East and North Africa, announced that it has raised $35 million in a pre-Series C funding round, co-led by Mubadala Investment, the sovereign investment company in Abu Dhabi, alongside the European Bank for Reconstruction and Development.

The list of participating investors includes British International Investment, Global Ventures, and DPI Ventures. This funding will be used to accelerate Paymob's regional expansion in the Middle East and North Africa by enhancing its core business in digital payment solutions and offering new products designed to meet the needs of its small and medium-sized enterprise customer base, while supporting the agentic commerce sector.

This investment follows strong financial and operational performance achieved by Paymob, particularly over the past eighteen months, during which the company’s consolidated revenues tripled across its four markets, while its revenues in the Gulf Cooperation Council countries grew sevenfold, with Gulf markets currently contributing nearly half of the company’s total revenues. Since obtaining a retail payment service license from the Central Bank of the UAE in January 2025, Paymob has attracted around 20,000 customers to its platform across its three Gulf markets.

Islam Shawki, co-founder and CEO of Paymob, stated: "Paymob has transformed into a regional platform over the past eighteen months, thanks to the accelerated growth of our business in the Gulf Cooperation Council countries. This pre-Series C funding round will enable us to accelerate our growth journey in the Middle East and North Africa, as well as enhance the pace of innovation in developing our product suite, making us the preferred payment platform for the agentic commerce sector. In this context, we are pleased to welcome Mubadala to our shareholder base, and we appreciate the ongoing support from our current investors."

On this occasion, Ali Eid Al-Muhairi, Executive Director of the Diverse Assets Unit at Mubadala’s Investment Sector in the UAE, said: "Our investment in Paymob aligns with our strategy within the Emerging Investments Fund for the Middle East and North Africa at Mubadala, aimed at supporting companies that contribute to the growth of the digital economy in the UAE and establishing the country as a leading regional hub for the fintech sector. With its flexible digital payment infrastructure and promising growth prospects in the Gulf Cooperation Council countries, Paymob has the potential to continue supporting commercial enterprises, expanding access to digital financial services, and contributing to economic diversification. This investment embodies our firm approach to supporting innovative companies and businesses capable of regional expansion and delivering tangible economic value in the long term."

Bruno Lussier, a venture capital and growth investor at the European Bank for Reconstruction and Development, commented: "Paymob has successfully developed a payment infrastructure that meets the needs of small and medium-sized enterprises in the Middle East and North Africa through a single seamless and scalable platform, while enhancing growth prospects in markets experiencing rapidly increasing demand for digital solutions. This investment reflects the European Bank for Reconstruction and Development's ongoing commitment to supporting fintech companies with high growth potential. We are proud to support the next phase of Paymob's expansion in the Gulf Cooperation Council countries and beyond."

Businesses in the Middle East and North Africa face a highly diverse payment environment, including buy-now-pay-later providers, local card networks, and banking installment solutions in various markets. To operate effectively in the region, merchants typically need seven or eight payment methods, each with separate integrations, negotiations, and settlement cycles that must be aligned. Here, Paymob plays a crucial role in addressing this gap by providing a single integrated platform, a single API, a single dashboard, and a single agreement, allowing merchants and enterprises to access over 60 payment methods to conduct their business.

Paymob's mission is to support the growth of small and medium-sized enterprises by providing the most innovative digital payment solutions infrastructure for businesses of all sizes. The multi-channel fintech platform enables commercial enterprises to accept payments online and offline, execute transactions, manage their finances, and grow their businesses through an integrated technology platform.

Paymob's investor base includes PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, British International Investment, Helios Digital Ventures, Global Ventures, and DPI Ventures, solidifying its position as one of the leading fintech companies backed by a wide range of investors in the Middle East and North Africa.