Paymob Raises $35m to Fuel Regional Expansion

Paymob, the leading payments infrastructure provider in the Middle East and North Africa (MENA) region, has closed a $35 million pre-Series C funding round. The investment will support the company’s continued growth across the region, with a focus on scaling operations and rolling out new products for small and medium-sized enterprises (SMEs).

The round was co-led by Mubadala Investment Company, an Abu Dhabi sovereign investor, and the European Bank for Reconstruction and Development (EBRD). Existing investors British International Investment, Global Ventures, and DPI Ventures also participated.

Since its founding in 2015 by Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob has evolved into a regional payments platform offering over 60 payment solutions through its omnichannel gateway. The company empowers close to 350,000 merchants with access to innovative financial services.

Rapid Growth in the GCC Region

Paymob’s expansion into the United Arab Emirates (UAE), Saudi Arabia, and Oman has been particularly strong. Since receiving its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, the company has onboarded around 20,000 merchants across these markets.

“Paymob has morphed into a regional platform over the past 18 months, propelled by our exponential growth in the GCC,” said CEO Islam Shawky. “This pre-Series C funding will help us accelerate our growth plan and become the go-to payments platform for agentic commerce across MENA.”

The fresh capital will be used to expand Paymob’s core digital payments acceptance operations, develop new products tailored for SME merchants, and address emerging use cases in agentic commerce.