Paymob, a leading payments infrastructure provider in the Middle East and North Africa, has announced a $35 million pre-Series C funding round co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development. British International Investment, Global Ventures, and DPI Ventures also participated in the round. The capital will support Paymob's regional expansion, new product development for small and medium enterprises, and its push into agentic commerce.
Funding Structure and Strategic Investors
The round was co-led by Mubadala, an Abu Dhabi-based sovereign investor, and the EBRD, bringing substantial institutional credibility to Paymob's shareholder base. British International Investment, Global Ventures, and DPI Ventures also participated alongside the co-leads. This financing builds on Paymob's existing investor network, which already includes PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, Helios Digital Ventures, and others.
Growth Trajectory and Regional Performance
Paymob's latest raise follows a period of strong financial and operational momentum across its four markets. Over the past 18 months, consolidated revenues increased threefold, while revenues from Gulf Cooperation Council markets grew sevenfold. Close to half of the company's total revenue is now generated from the GCC, reflecting the speed of its regional expansion.
Addressing a Fragmented Payments Landscape
Merchants across MENA often operate in a fragmented payments environment shaped by different buy now pay later providers, local card networks, and bank installment schemes. To manage these systems effectively, businesses typically need seven to eight payment methods, each with separate integrations, negotiations, and settlement cycles. Paymob addresses this challenge by offering a single contract, one API, and one dashboard that connects merchants to more than 60 payment methods.
Product Roadmap and SME Enablement
The new capital will be used to scale Paymob's core digital payments acceptance business while introducing products tailored to SME merchants. The company also aims to become a leading payments platform for agentic commerce, an emerging area where automated systems conduct transactions on behalf of users. Its omnichannel platform allows businesses to accept online and offline payments, execute transactions, manage finances, and grow through one technology layer.
Executive Perspectives
Islam Shawky, co-founder and chief executive officer of Paymob, said the company has evolved into a regional platform over the past 18 months. He added that the pre-Series C funding will help accelerate growth across MENA and fast-track the product roadmap for agentic commerce. Mubadala's Ali Eid Al Mheiri noted that the investment aligns with the UAE's ambition to support companies strengthening the digital economy and reinforcing the country's position as a regional fintech hub.
Regulatory Milestones and Regional Footprint
Founded in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob was initially licensed by the Central Bank of Egypt. The company entered the UAE in 2023 and secured its Retail Payment Services Licence from the Central Bank of the UAE in January 2025. Since obtaining that licence, Paymob has onboarded roughly 20,000 merchants across its three GCC markets.
Future Outlook
Looking ahead, Paymob's expansion strategy will focus on scaling its single platform model across markets with different payment ecosystems. The rollout of new SME focused products and the development of agentic commerce capabilities will be critical areas to monitor. Merchant growth across the GCC and wider MENA will also shape the company's ability to maintain its current momentum.
With this $35 million pre-Series C round, Paymob is positioned to deepen its presence across MENA and strengthen its role as a unified payments infrastructure provider. The company's ability to convert recent GCC growth into broader regional expansion will be a key measure of its next phase. As digital payments continue to evolve, Paymob's platform could help more SMEs access streamlined financial services and participate in the region's digital economy.