Paymob Secures $35 Million Pre-Series C Funding for Regional Expansion

Financial technology provider Paymob has announced the completion of a $35 million Pre-Series C funding round, co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD). This significant investment underscores growing confidence in digital payment solutions within the Middle East.

Rapid Growth Fuels New Funding

The past 18 months have seen Paymob experience substantial operational scaling. The company tripled consolidated revenues across its four core markets, with Gulf Cooperation Council (GCC) revenue surging sevenfold. This growth was particularly accelerated after Paymob acquired a Retail Payment Services Licence from the Central Bank of the UAE (CBUAE) in January 2025, allowing it to onboard approximately 20,000 merchants across its three active GCC markets.

Addressing Market Fragmentation

One of Paymob’s key strengths is addressing the fragmented payments landscape common throughout the Middle East and North Africa (MENA) region. Businesses often need to manage multiple payment methods—including local cards, BNPL platforms, and bank installment plans—each requiring separate integrations. Paymob consolidates these into a single platform with one API, providing merchants access to over 60 localized payment options.

Future Focus Areas

The new funding will support:

• Expanding the core merchant acceptance gateway
• Introducing specialized working capital products for SMEs
• Building infrastructure tailored for agentic commerce (where AI agents handle transactions)

“Paymob has evolved into a regional platform, driven by our GCC business,” said Islam Shawky, co-founder and CEO. “This funding will help us accelerate growth across the MENA region and become the go-to payments solution for businesses seeking to expand digitally.”

With institutional investors including PayPal Ventures, Kora Capital, and Helios Digital Ventures already on board, Paymob is positioned as a foundational payments engine enabling digital trade across the Middle East.