Paymob Raises $35 Million to Expand Across MENA

Paymob has raised $35 million in a Pre-Series C funding round co-led by Mubadala and the European Bank for Reconstruction and Development, with participation from British International Investment, Global Ventures and DPI Ventures.

Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, the payments infrastructure company plans to use the funding to accelerate expansion across MENA and develop new products for small and medium-sized businesses and agentic commerce.

Paymob’s platform brings more than 60 payment methods into a single system, giving merchants access through one contract, API and dashboard. It combines online and offline payment acceptance with transaction and financial management tools, reducing the need for businesses to integrate separately with different card networks, instalment providers and buy-now-pay-later services.

The company is licensed by the Central Bank of Egypt and entered the UAE in 2023, securing a Retail Payment Services Licence from the Central Bank of the UAE in January 2025. Since receiving the licence, Paymob says it has onboarded around 20,000 merchants across its three GCC markets.

“This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap to become the go-to payments platform for agentic commerce,” said Islam Shawky, Co-Founder and CEO of Paymob.

The round also adds Mubadala to Paymob’s shareholder base, while EBRD’s participation brings additional institutional backing as the company expands beyond its established markets.