Egyptian fintech startup Paymob raises $35m pre-Series C funding round

Egyptian startup Paymob, the leading payments infrastructure service provider in the MENA region, has secured US$35 million in a pre-Series C funding round to support its ongoing expansion across the region.

Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob is an infrastructure technology enabler providing payment solutions to empower digital financial service providers through mobile wallet technology.

Its omnichannel gateway offers more than 60 payment solutions and empowers close to 350,000 merchants with access to innovative financial services. It has expanded to the United Arab Emirates (UAE), Saudi Arabia and Oman.

Disrupt Africa reported in September 2024 Paymob had extended its Series B round to US$72 million, and it has now secured US$35 million in pre-Series C funding in a round co-led by Mubadala Investment Company, an Abu Dhabi-based sovereign investor, and the European Bank for Reconstruction and Development (EBRD). British International Investment, Global Ventures and DPI Ventures also took part in the raise.

The fresh capital will support Paymob’s ongoing growth across MENA, by scaling its core digital payments acceptance operations and by rolling out new products aimed at SME merchants and at agentic commerce use cases. Paymob has onboarded around 20,000 merchants across its three GCC markets since it received its Retail Payment Services Licence from the Central Bank of the UAE in January 2025.

“Paymob morphed into a regional platform over the past 18 months, propelled by the exponential growth of our GCC business. This pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap to become the go-to payments platform for agentic commerce. We are very excited about Mubadala joining our cap table and grateful for the continued support of our existing shareholders,” Shawky, Paymob’s CEO, said.

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