Egyptian Fintech Paymob Raises $35 Million in Pre-Series C Round to Fuel MENA Expansion

CAIRO — Egyptian payments infrastructure provider Paymob has secured $35 million in a pre-Series C funding round, bringing its cumulative venture backing to approximately $125 million.

The round was co-led by Abu Dhabi-based sovereign investor Mubadala and the European Bank for Reconstruction and Development (EBRD). Additional participation came from British International Investment (BII), Global Ventures, and DPI Ventures. The fresh capital builds on the company's prior $72 million Series B financing, which spanned a $50 million raise in 2022 and a $22 million extension in 2024.

Scaling Regional Infrastructure and Product Lines

Founded in 2015 by Alain El Hajj, Islam Shawky, and Mostafa El Menessy, Paymob provides an omnichannel gateway supporting over 60 payment methods through POS terminals, SoftPOS, and online payment links.

• Strategic Deployment: Proceeds will accelerate market penetration across the Middle East and North Africa (MENA), scaling digital acceptance infrastructure and launching specialized products tailored for SME merchants and agentic commerce.
• GCC Momentum: Over the past 18 months, Paymob’s consolidated revenues have surged threefold, powered by a sevenfold increase in GCC revenues. Nearly half of the company's total revenue now originates from the GCC.
• Market Footprint: Operating across Egypt, the UAE, Saudi Arabia, and Oman, the platform serves more than 390,000 merchants. Following its Retail Payment Services License from the Central Bank of the UAE (CBUAE) obtained in January 2025, the firm has onboarded roughly 20,000 merchants across its three GCC markets.

"This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap," said Islam Shawky, co-founder and CEO of Paymob.

The raise arrives amidst shifting venture trends in the region. According to MAGNiTT, MENA startups captured $1.35 billion across 214 deals in the first half of 2026, marking a 22% year-over-year decline in funding as deal activity fell 41%. Within that landscape, MENA fintech startups secured $617 million across 57 deals, down 9% in value and 50% in deal volume, with the UAE and Saudi Arabia capturing 85% of total regional fintech capital by raising a combined $523 million.

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