PayPal is set to invest $100 million throughout the Middle East and Africa, to fuel innovation, support entrepreneurs, and drive inclusive economic growth in the region.
The firm will do these through a mix of minority investments, acquisitions, PayPal Ventures funding, people, and technology deployments to help local businesses scale, unlock new opportunities for innovators, and bring millions more consumers and communities into the digital economy.
“The Middle East and Africa are home to some of the most dynamic and rapidly evolving businesses in the world,” said Alex Chriss, President and CEO, PayPal. “By dedicating a $100 million investment to this region over the coming years, we’re investing in the technologies, partnerships, and solutions that will help entrepreneurs scale faster, expand their reach beyond borders, and unlock new opportunities for growth in the digital economy.”
In April, PayPal launched it’s first regional hub in Dubai, a gateway designed to deliver global commerce capabilities to the region by providing businesses from large enterprises to small merchants with frictionless payments, robust security, and greater access to international markets.
This new $100 million commitment also builds on PayPal Ventures’ existing investments in some of the region’s most promising startups, including Tabby, Paymob, and Stitch, highlighting PayPal’s role as a long-term partner in shaping the future of digital commerce.
“This commitment underscores our dedication to expanding PayPal’s presence in the Middle East and Africa and our focus is to build stronger connections between local businesses and the global marketplace,” said Otto Williams, Senior Vice President, Regional Head and General Manager of PayPal Middle East and Africa. “We’re focused on expanding our footprint in the region and ensuring millions of consumers and businesses can access more of the digital services they need to thrive.”