Paymob, the Egyptian payments company founded in 2015, has raised $35 million in a pre-Series C round co-led by Abu Dhabi's Mubadala Investment Company and the European Bank for Reconstruction and Development, according to African-Startups. British International Investment, Global Ventures and DPI Ventures also took part.
The Gulf did the heavy lifting
Paymob gives merchants one contract, one integration and one dashboard for more than 60 payment methods. It operates in Egypt, the UAE, Saudi Arabia and Oman and connects about 400,000 merchant sites, the company says.
Revenue from the Gulf grew sevenfold and now accounts for nearly half the total, Paymob says, with about 20,000 Gulf merchants onboarded since January 2025. It holds a retail payment services licence from the Central Bank of the UAE, granted in January 2025.
"Paymob morphed into a regional platform over the past 18 months, propelled by the exponential growth of our GCC business," said co-founder and CEO Islam Shawky, according to African-Startups.
Where the money goes
The company plans to expand further across the Middle East and North Africa, grow its card acceptance business and build products for small merchants and for agentic commerce, where AI agents make purchases on a user's behalf. Total disclosed funding now exceeds $125 million.
