Egyptian fintech Paymob has secured $35 million in fresh funding to expand its payments business across the Middle East and North Africa. Announced on 21 September, the investment will support merchant services and new products as the Cairo-founded company builds its presence beyond its home market.
The pre-Series C round was co-led by Abu Dhabi sovereign investor Mubadala and the European Bank for Reconstruction and Development. British International Investment, Global Ventures and DPI Ventures also participated.
Founded in 2015 by Islam Shawky, Alain El-Hajj and Mostafa Menessy, Paymob provides businesses with tools to accept payments online and in person, alongside services for managing their finances. It now serves more than 390,000 merchants.
Simplifying payments for smaller businesses
The company addresses a practical challenge for merchants: customers use different cards, digital wallets and payment services, each potentially requiring separate technical connections and administrative arrangements.
Paymob says its platform brings together more than 60 payment methods through a single integration, contract and dashboard. The new funding will help expand its core payment-acceptance business and develop additional services for small and medium-sized enterprises.
For smaller businesses, simpler administration could make digital payments easier to adopt. The practical benefit will depend on transaction costs, reliable settlement and whether the available methods match customers’ needs.
Gulf expansion strengthens the business
According to figures published with the investment announcement, Paymob’s consolidated revenue tripled over the preceding 18 months. Revenue from Gulf Cooperation Council markets increased sevenfold, with those markets accounting for close to half of the total.
The company also reported adding approximately 20,000 merchants across its three Gulf markets since obtaining its UAE retail payment services licence in January 2025. These are company-reported performance figures.
An African fintech with regional ambitions
The transaction illustrates how an Egyptian payments company can attract international capital while expanding into neighbouring markets. It also highlights the commercial importance of the infrastructure that allows businesses to receive and manage digital payments.
Paymob’s next challenge is turning its additional funding into sustained merchant activity. For businesses adopting such services, the decisive measures will be everyday usability, transparent pricing and dependable access to their money.
Newshub Editorial in Africa – 1 October 2026
Egyptian fintech Paymob has secured $35 million in fresh funding to expand its payments business across the Middle East and North Africa. Announced on 21 September, the investment will support merchant services and new products as the Cairo-founded company builds its presence beyond its home market.
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