Paymob, the Egypt-founded payments infrastructure company, raised $35 million in a pre-Series C funding round co-led by Abu Dhabi sovereign investor Mubadala Investment Company and the European Bank for Reconstruction and Development, as the fintech expands its business across the Middle East and North Africa.
British International Investment, Global Ventures and DPI Ventures also participated in the round, Paymob said in a statement.
The financing brings Paymob’s disclosed funding to more than $125 million, following a $50 million Series B in 2022 and a $22 million extension in 2024 led by EBRD.
Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob provides a payments platform that allows merchants to accept online and in-store transactions through a single technology layer. The company connects businesses to more than 60 payment methods across its markets.
Paymob serves more than 390,000 merchants in Egypt, the United Arab Emirates, Saudi Arabia and Oman. The company plans to use the new funding to expand its digital payments acceptance business across MENA while developing products for small and medium-sized businesses and what it calls agentic commerce.
The company’s growth has increasingly shifted toward the Gulf. Consolidated revenue tripled over the past 18 months, while revenue from the Gulf Cooperation Council markets increased sevenfold, Paymob said. GCC markets now account for nearly half of its total revenue.
Paymob received a Retail Payment Services Licence from the Central Bank of the UAE in January 2025. Since then, it has added about 20,000 merchants across its three GCC markets.
“Paymob morphed into a regional platform over the past 18 months, propelled by the exponential growth of our GCC business,” Chief Executive Officer Islam Shawky said.
The company is targeting a fragmented payments market in which merchants often need to integrate separately with local card networks, buy-now-pay-later providers and bank installment systems. Paymob says its platform allows merchants to access those payment options through one contract, API and dashboard.
The new investment also brings Mubadala onto Paymob’s shareholder base as the Abu Dhabi investor increases its focus on companies supporting the UAE’s digital economy and regional technology ecosystem.
For EBRD, the investment extends its backing of Paymob as the company moves from an Egypt-focused fintech toward a broader regional payments infrastructure provider.
Paymob’s existing investors include PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, Helios Digital Ventures, Global Ventures and DPI Ventures.
The company said it will also use the funding to accelerate products designed for agentic commerce, an emerging area in which software agents can increasingly search, select and transact with merchants on behalf of consumers or businesses.
