“We Got Funded!” Egypt-Based Paymob Raises A US$35 Million Pre-Series C Round Co-Led by Mubadala and EBRD
The investment follows Paymob’s robust financial and operational performance in the last 18 months.
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Egypt-based fintech Paymob has raised US$35 million in a Series C extension round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development, with participation from British International Investment, Global Ventures, and DPI Ventures.
The company will use the new capital to expand its digital payments acceptance business across the MENA region and launch new products for small and medium-sized enterprises (SMEs), including offerings designed to support agentic commerce.
The investment follows Paymob’s robust financial and operational performance in the last 18 months. During this period, consolidated revenues increased by 3x across its four markets, while GCC revenues grew by 7x, with close to half of total revenue currently generated from GCC markets. Since securing its retail payment services license from the Central Bank of the UAE in January 2025, Paymob has onboarded roughly 20,000 merchants onto its platform across its three GCC markets.
Islam Shawky, co-founder and Chief Executive Officer, Paymob, said, “Paymob morphed into a regional platform over the past 18 months, propelled by the exponential growth of our GCC business. 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. We are very excited about Mubadala joining our cap table and grateful for the continued support of our existing shareholders.”
Ali Eid Al Mheiri, Executive Director, UAE Diversified Assets, Mubadala’s UAE Investments Platform, said, “Paymob’s expansion in the UAE aligns closely with our ambition under our MENA Venture Capital Fund, to support companies that strengthen the country’s digital economy and reinforce its position as a leading regional fintech hub. With a scalable payments platform and strong growth potential across the GCC, Paymob is well positioned to support merchants, advance financial inclusion and contribute to economic diversification. This investment reflects Mubadala’s continued focus on backing innovative businesses that can scale across the region and create long-term value.”
Bruno Lusic, VC and Growth Investor, EBRD, added, “Paymob has built the payments infrastructure that MENA’s SME economy has been missing, a single, scalable layer that removes friction for merchants and unlocks growth across markets that have historically been underserved by digital finance. This investment reflects EBRD’s continued commitment to backing high-growth fintech champions. We are proud to support Paymob’s next phase of expansion across the GCC and beyond.”
Paymob’s mission is to fuel SME growth by offering a payments infrastructure that delivers the most innovative digital payments solutions to businesses of all sizes. The omnichannel financial technology platform enables merchants to accept online and offline payments, execute transactions, manage their finances, and grow their businesses all from a single technology layer.
Paymob’s investor base includes PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, British International Investment, Helios Digital Ventures, Global Ventures and DPI Ventures.
Egypt-based fintech Paymob has raised US$35 million in a Series C extension round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development, with participation from British International Investment, Global Ventures, and DPI Ventures.
The company will use the new capital to expand its digital payments acceptance business across the MENA region and launch new products for small and medium-sized enterprises (SMEs), including offerings designed to support agentic commerce.
The investment follows Paymob’s robust financial and operational performance in the last 18 months. During this period, consolidated revenues increased by 3x across its four markets, while GCC revenues grew by 7x, with close to half of total revenue currently generated from GCC markets. Since securing its retail payment services license from the Central Bank of the UAE in January 2025, Paymob has onboarded roughly 20,000 merchants onto its platform across its three GCC markets.
Entrepreneur Middle East Staff
Entrepreneur Staff
