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Paymob, an Egypt-based FinTech startup, has closed a $35 million pre-Series C funding round. The round was co-led by Mubadala Investment Company, an Abu Dhabi-based sovereign investor, and the European Bank for Reconstruction and Development (EBRD). British International Investment (BII), Global Ventures, and DPI Ventures also took part.
Islam Shawky, Co-Founder & Chief Executive Officer of 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.”
Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa El Menessy, Paymob runs a unified omnichannel payments gateway that gives merchants access to more than 60 payment methods.
Merchants in the MENA region deal with a complex payments landscape that includes various BNPL providers, local card networks, and bank installment options.
This often requires them to manage seven to eight different payment methods, each needing its own setup and agreements. As a result, Paymob simplifies this by offering one contract, one API, and a single dashboard, giving merchants access to over 60 payment methods.
The company operates in Egypt, the UAE, Saudi Arabia, and Oman, and now connects close to 400,000 merchant sites across these four markets.
Over the past 18 months, Paymob’s consolidated revenue has tripled, while revenue from the Gulf Cooperation Council (GCC) region grew sevenfold and now makes up nearly half of the company’s total revenue.
Since receiving its Retail Payment Services Licence from the Central Bank of the UAE (CBUAE) in January 2025, Paymob has onboarded around 20,000 merchants in its GCC markets.
The company was ranked 30th on Forbes Middle East’s Top 50 FinTech Companies list in 2025.
The new funds will go toward Paymob’s expansion across the Middle East and North Africa (MENA) region. This includes scaling its digital payments acceptance business and building new products for SME merchants and agentic commerce.
The round takes Paymob’s total disclosed funding to more than $125 million, following its $50 million Series B in 2022 and a $22 million Series B extension led by EBRD in 2024.
Paymob’s investor base includes PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, British International Investment, Helios Digital Ventures, Global Ventures and DPI Venture
Ali Eid Al Mheiri, Executive Director, UAE Diversified Assets, at 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.”
