Paymob has raised $35M in pre-Series C funding to widen its payments business across the Middle East and North Africa.
Mubadala Investment Company and the European Bank for Reconstruction and Development co-led the round, joined by British International Investment, Global Ventures and DPI Ventures. The deal takes Paymob’s disclosed funding past $125M.
The Cairo company gives merchants one technology layer for online and in-store payments, plus payment links, subscriptions, installments and mass payouts. More than 60 payment methods run through it, and the platform serves some 390,000 merchants across Egypt, the UAE, Saudi Arabia and Oman. Co-founders Islam Shawky, Alain El Hajj and Mostafa Menessy lead the business.
Paymob’s pitch is consolidation. A regional merchant otherwise juggles card acquirers, buy-now-pay-later providers, local networks and bank installment schemes, each with separate contracts and integrations. Hiding that complexity behind one API is what raises the company’s value as MENA commerce digitises.
The new money funds regional expansion, products for smaller merchants and a product roadmap built around agentic commerce, where software rather than a human at a checkout initiates the payment.
