Paymob raises $35 million pre-Series C from Mubadala and EBRD
Paymob, the Egypt-founded payments infrastructure provider, has raised $35 million in a pre-Series C round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development. British International Investment, Global Ventures, and DPI Ventures also participated in the round.
The round takes Paymob's total disclosed funding to more than $125 million, following a $50 million Series B in 2022 and a $22 million Series B extension in 2024.
One API, sixty-plus payment methods
Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob provides an omnichannel payments platform that enables businesses to accept online and offline payments and access more than 60 payment methods through a single technology layer.
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The platform currently serves more than 390,000 merchants across Egypt, the UAE, Saudi Arabia, and Oman. Paymob will use the new capital to expand its digital payments acceptance business across MENA and develop new products for SME merchants and agentic commerce.
Consolidated revenues increased by 3x across Paymob's four markets in the last 18 months, while GCC revenues grew by 7x. Close to half of total revenue is currently generated from GCC markets, and Paymob has onboarded roughly 20,000 merchants across its three GCC markets since securing its Retail Payment Services Licence from the Central Bank of the UAE 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 Chief Executive Officer Islam Shawky. "This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap to become the go-to payments platform for agentic commerce."
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