Egypt-based Paymob has raised $35 million in pre-Series C funding, co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development.
British International Investment, Global Ventures and Development Partners International also participated in the round.
Paymob is a payments infrastructure service provider in the Middle East and North Africa (MENA) region. The investment will fund Paymob’s continued expansion across the region, both by scaling its core digital payments acceptance business and by introducing new product offerings tailored to its SME merchants and catering to agentic commerce.
Islam Shawky, co-founder and chief executive officer of Paymob, said: “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.”
Ali Eid Al Mheiri, executive director for UAE diversified assets at Mubadala’s UAE Investments Platform, commented: “Paymob’s expansion in the UAE aligns closely with our ambition under our MENA Venture Capital Fund, to support companies that strengthen the country’s digital economy and reinforce its position as a leading regional fintech hub. With a scalable payments platform and strong growth potential across the GCC, Paymob is well positioned to support merchants, advance financial inclusion and contribute to economic diversification. This investment reflects Mubadala’s continued focus on backing innovative businesses that can scale across the region and create long-term value.”
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