Egypt-founded payments company Paymob has secured $35 million in pre-Series C funding, strengthening its position as one of the region’s most prominent payment infrastructure providers.
The round was co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD), with participation from British International Investment, Global Ventures and DPI Ventures.
Funding to Support Regional Expansion
Paymob says the new capital will be used to expand its digital payment acceptance business across the Middle East and North Africa, while also developing new products for SME merchants and emerging agentic commerce use cases.
The company currently operates across Egypt, the UAE, Saudi Arabia and Oman and provides merchants with access to 60+ payment methods through a single API and dashboard. Paymob says it now serves more than 390,000 merchants across its markets.
Strong Growth Beyond Egypt
Paymob has recorded significant expansion over the past 18 months.
According to Mubadala, Paymob’s consolidated revenue across its four markets has tripled, while GCC revenue has grown sevenfold. Nearly half of the company’s overall revenue now comes from Gulf markets.
Since receiving its UAE Retail Payment Services License in January 2025, Paymob has also on-boarded roughly 20,000 merchants across its GCC markets.
Why This Matters for African Payments
Paymob began in Egypt, and its growth demonstrates how African-founded payment infrastructure companies are increasingly building beyond their home markets.
For merchants operating across gaming, Forex, digital services, e-commerce and other online sectors, the ability to access multiple payment methods through one infrastructure layer can reduce integration complexity and improve market expansion.
However, support for high-risk merchants will continue to depend on Paymob’s individual compliance, licensing and risk policies.
iBetAfrica Perspective
For iBetAfrica, Paymob remains particularly relevant because it sits at the intersection of Africa, payments infrastructure and regional expansion.
Its fresh funding could create opportunities around:
- new African market expansion
- local payment-provider partnerships
- merchant acquisition
- technology integrations
- fintech interviews and media collaboration
- potential connections with high-risk businesses where permitted
The key question for iBetAfrica is whether Paymob’s next growth phase will extend deeper into additional African markets beyond Egypt.
