Paymob Raises $35 Million to Fuel Regional Expansion

Egyptian fintech startup Paymob, a leading payments infrastructure provider in the Middle East and North Africa (MENA) region, has announced a $35 million pre-Series C funding round. The investment will support Paymob’s continued expansion across the region and further develop its payment solutions for businesses.

Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob provides an omnichannel gateway that offers over 60 payment methods to nearly 350,000 merchants. The company has already expanded into the United Arab Emirates (UAE), Saudi Arabia, and Oman.

The funding round was co-led by Mubadala Investment Company, a sovereign investor based in Abu Dhabi, and the European Bank for Reconstruction and Development (EBRD). Additional investors included British International Investment, Global Ventures, and DPI Ventures.

Since receiving its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, Paymob has onboarded around 20,000 merchants across its GCC markets. The company plans to use the new capital to scale its core payment operations, develop new products for small and medium-sized enterprises (SMEs), and target agentic commerce use cases.

“Paymob has evolved into a regional platform over the past 18 months, driven by the exponential growth of our GCC business,” said CEO Islam Shawky. “This pre-Series C funding will help us accelerate our growth plan across MENA and fast-track our product roadmap to become the go-to payments platform for agentic commerce.”

The latest investment brings Paymob’s total funding raised to over $107 million, reflecting growing investor confidence in the company’s vision to transform digital payments across the region.