Paymob raises $35 million Pre-Series C co-led by Mubadala and EBRD

Paymob has raised $35 million in a Pre-Series C round, Wamda reported on 21 September. The round was co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD), with British International Investment, Global Ventures and DPI Ventures also taking part.

Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob gives businesses one technology layer to accept payments online and in store. Merchants can take more than 60 payment methods through the platform.

A regional business now

The headline number behind the round is growth outside Egypt. Paymob now serves more than 390,000 merchants across Egypt, the UAE, Saudi Arabia and Oman. Over the past 18 months its consolidated revenue has tripled, while revenue from the three Gulf markets has grown seven times. Those markets now account for close to half of the company's total revenue, and about 20,000 merchants have joined there since January 2025.

Chief executive Islam Shawky said Paymob "morphed into a regional platform over the past 18 months".

Plans for the capital

The company will use the funding to expand its payment acceptance business across the Middle East and North Africa. It is also building new products for small and medium-sized merchants, and for agentic commerce, where software agents make purchases on a customer's behalf.

Funding history

The new round follows a $50 million Series B in 2022 and a $22 million Series B extension led by the EBRD in 2024. Paymob's total disclosed funding now stands above $125 million.

At a glance

• Company: Paymob
• Raised: $35 million
• Round: Pre-Series C
• Co-leads: Mubadala Investment Company, EBRD
• Also investing: British International Investment, Global Ventures, DPI Ventures
• Markets: Egypt, UAE, Saudi Arabia, Oman
• Founded: 2015