Paymob Raises $35M to Fuel Regional Expansion

Egypt-based payment infrastructure provider Paymob has secured $35 million in a pre-Series C funding round, led by Abu Dhabi sovereign investor Mubadala and the European Bank for Reconstruction and Development (EBRD). This brings Paymob’s total capital raised to approximately $125 million.

The company plans to invest this new funding into its payments acceptance business, particularly targeting small and medium-sized enterprises (SMEs) with tailored payment solutions. With existing offerings like payment gateways, POS terminals, SoftPOS systems, and payment links, Paymob aims to facilitate seamless transactions across both online and physical channels.

Growing Regional Presence

Founded in 2015 by Alain El Hajj, Islam Shawky, and Mostafa El Menessy, Paymob currently operates in Egypt, the UAE, Saudi Arabia, and Oman. While it initially focused on its home market, the Gulf region has become increasingly significant—now accounting for nearly half of Paymob’s total revenue.

Revenue across these four markets has tripled over the past 18 months, with GCC revenue growing sevenfold. Since receiving a Retail Payment Services License from the Central Bank of the UAE in January 2025, Paymob added roughly 20,000 merchants across its three GCC markets.

Strategic Focus Areas

The company sees agentic commerce as another key growth area, anticipating increasing payment activity through software agents. While details remain under wraps, this suggests Paymob expects transactions to be increasingly facilitated by third parties on behalf of users.

This expansion comes at a time when MENA fintech funding is tightening—startups raised $1.35 billion across 214 deals in the first half of 2026, down from $1.73 billion across 358 deals the previous year. The UAE and Saudi Arabia continue to attract most capital, accounting for over 85% of total funding during this period.

Challenges Ahead

While Paymob’s growth trajectory is promising, maintaining momentum in a more competitive landscape will require careful execution. Balancing merchant acquisition costs with revenue generation—particularly as the company expands into new markets—will be crucial to building a sustainable payments business.