Paymob Raises $35M for MENA Fintech Expansion

Egyptian payment infrastructure provider Paymob has successfully closed a $35 million funding round, positioning itself for accelerated growth across the Middle East and North Africa (MENA) region. This pre-Series C injection of capital was co-led by prominent sovereign investor Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD), signaling strong confidence in the company's trajectory within the rapidly evolving digital payments sector.

The funding will be instrumental in scaling Paymob's core digital payment acceptance operations and developing new product offerings. A key focus will be on serving small and medium-sized enterprise (SME) merchants and expanding its capabilities in agentic commerce, a growing area in emerging markets where intermediaries facilitate transactions. This strategic move aligns with the increasing demand for accessible and integrated financial services for businesses of all sizes.

Paymob, founded in 2015, has established itself as a significant player in the MENA fintech scene. Its platform provides a comprehensive suite of over 60 payment solutions, empowering approximately 350,000 merchants with access to digital financial tools. The company's recent expansion into the United Arab Emirates (UAE), Saudi Arabia, and Oman has been particularly impactful. Notably, since obtaining its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, Paymob has onboarded around 20,000 merchants across these three Gulf Cooperation Council (GCC) markets.

This latest funding round saw participation from other key investors, including British International Investment, Global Ventures, and DPI Ventures. Their involvement underscores the collective belief in Paymob's potential to innovate and capture market share in a region experiencing a significant digital transformation. The fintech sector in MENA has seen substantial investment, driven by a young, tech-savvy population and government initiatives promoting financial inclusion and digital economies.

Islam Shawky, CEO of Paymob, highlighted the company's evolution into a regional powerhouse over the past 18 months, largely driven by the robust performance of its GCC operations. "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," Shawky stated. He also expressed enthusiasm for Mubadala joining the investor base and gratitude for the continued backing from existing shareholders.

The MENA fintech market is projected for significant growth, with digital payment adoption rates climbing steadily. Paymob's strategy to focus on infrastructure and empower a broad merchant base, including SMEs, places it in a strong position to capitalize on these trends. The company's ability to offer a wide array of payment methods through a single, integrated platform addresses a critical need for businesses seeking to streamline their financial operations and reach a wider customer base in an increasingly digital marketplace.