Paymob, an Egyptian payments infrastructure provider, has raised $35 million in a pre-Series C funding round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development (EBRD), as the fintech looks to scale its presence across the Middle East and North Africa (MENA).

The round also attracted British International Investment (BII), Global Ventures and DPI Ventures. The latest funding brings Paymob’s disclosed funding to more than $125 million, following $72 million raised across its Series B rounds in 2022 and 2024.

Paymob targets regional payments expansion

Paymob provides payment infrastructure that enables businesses to accept online and offline payments, process transactions and manage financial operations through a single technology platform. A further focus will be agentic commerce, an emerging area of digital commerce involving software agents that can perform tasks and transactions on behalf of users.

The company became the first fintech to receive Egypt’s Payments Facilitator license in 2018 and gained Saudi Payments PTSP certification in May 2023 after furthering its expansion into the UAE in 2022. By December 2023, it became the first international fintech to secure Oman’s PSP license, solidifying its regional presence.

Now, As the MENA region’s biggest payment facilitator, it provides merchants access to more than 60 payment methods through a single contract, API and dashboard, addressing the fragmented payments systems across MENA markets, where merchants can otherwise require separate integrations and settlement arrangements for different payment providers. Paymob’s platform serves more than 390,000 businesses across Egypt, the UAE, Saudi Arabia and Oman, according to the company and industry reports.

GCC growth reshapes Paymob’s business

The latest investment follows a significant expansion in Paymob’s Gulf operations. The company said its consolidated revenue tripled over the past 18 months, while revenue generated from GCC markets increased sevenfold. GCC markets now account for nearly half of Paymob’s total revenue.

Since securing its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, Paymob says it has onboarded approximately 20,000 merchants across its three GCC markets.

Paymob first entered the UAE in 2023 before securing regulatory approval to operate as a licensed payment services provider.

Islam Shawky builds Paymob around merchant infrastructure

Shawky, who serves as the fintech’s co-founder and chief executive officer, said the company has evolved into a regional platform following the rapid expansion of its GCC business.

He said the new capital will support Paymob’s expansion across MENA while accelerating its product roadmap, including products designed for SMEs and agentic commerce.

The company is also positioning its infrastructure around the growing needs of businesses operating across multiple MENA markets, where payment methods, networks and settlement systems differ from one jurisdiction to another.

New capital backs SME and agentic commerce products

Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob plans to use the $35 million to scale its core digital payments acceptance business across MENA and develop new products tailored to small and medium-sized businesses. Its expansion represents a shift from building individual market operations toward scaling a unified payments infrastructure across multiple regional markets.

Mubadala’s participation also adds the Abu Dhabi-based sovereign investor to Paymob’s shareholder base, while EBRD continues its backing of the Egyptian-founded fintech.

With more than 390,000 merchants already using its platform and GCC revenue accounting for nearly half of total income, its next phase will focus on extending its payments infrastructure across MENA while expanding the financial and commerce tools available to SMEs.