Paymob, an Egypt-based FinTech company, raised $35 million in pre-Series C funding, the company said in a Monday (Sept. 21) post on LinkedIn.
Paymob said in the post that it will invest the new funding in “wider payment coverage across our [Middle East and North Africa (MENA)] markets, new products for [small- to medium-sized business (SMB)] merchants and getting ahead of agentic commerce.”
Paymob operates across Egypt, the United Arab Emirates, Saudi Arabia and Oman; serves more than 390,000 merchants; and enables merchants to accept payments and manage their finances through its payment gateway, point-of-sale terminals, software point of sale and payment links, according to a Forbes Middle East report shared in Paymob’s post.
Paymob was founded in 2015; raised $72 million in Series B funding across a 2022 round and a 2024 extension round; and increased its consolidated revenues threefold across its four markets, per the report.
Paymob’s pre-Series C funding round was co-led by Mubadala and the European Bank for Reconstruction and Development (EBRD), according to the company’s post.
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Ali Al Mehairi, executive director of diversified assets at Mubadala Investment Company, said in a Monday post on LinkedIn that Paymob has established itself as one of the MENA region’s most widely backed FinTech companies.
“Its platform simplifies a traditionally fragmented payments landscape by bringing more than 60 payment methods under a single contract, API, settlement cycle and dashboard,” Al Mehairi said.
Bruno Lusic, venture capitalist and growth investor at EBRD Venture Capital, said in a Monday post on LinkedIn that with the latest investment, EBRD VC doubled down on its conviction after first backing Paymob in 2024.
“Paymob has built the payments infrastructure that MENA’s [SMB] economy has been missing,” Lusic said. “Over the last 18 months, the company has tripled revenues and grown its [Gulf Cooperation Council] business 7x, onboarding nearly 20,000 merchants.”
Paymob Co-Founder and CEO Islam Shawky told PYMNTS in February 2023 that Paymob aimed to fill a gap between payments issuance and acceptance that is a major pain point in emerging markets. The firm had been working to plug the acceptance hole both online and in-person by offering 40 different payment options to its merchant clients.
When Paymob raised $50 million in the first part of its Series B in May 2025, it was reported that it was the largest such funding for a FinTech in Egypt.