Egypt-based payments infrastructure provider Paymob has raised USD 35 million in a pre-Series C funding round.
The current funding brings the company’s total raised to date to approximately USD 125 million. The round was co-led by Mubadala, an Abu Dhabi-based sovereign investor, and the European Bank for Reconstruction and Development (EBRD).
Platform capabilities and regional footprint
The pre-Series C round follows two earlier tranches of Series B funding: USD 50 million raised in 2022 and a USD 22 million extension completed in 2024. According to the company, the newly raised capital will be directed towards expanding its digital payments acceptance business across the Middle East and North Africa (MENA) region, alongside the development of new products targeted at small and medium-sized merchants, and at agentic commerce.
Islam Shawky, cofounder and CEO of Paymob, said the funding is intended to support the firm’s regional growth plan and to advance its product roadmap.
Paymob, founded in 2015, provides merchants with payment acceptance and financial management tools through a payment gateway, point-of-sale terminals, SoftPOS, and payment links, supporting more than 60 payment methods. The company operates in Egypt, the UAE, Saudi Arabia, and Oman, serving over 390,000 merchants.
Gulf Cooperation Council (GCC) markets now account for close to half of Paymob’s total revenue. Since obtaining a Retail Payment Services Licence from the Central Bank of the UAE in January 2025, the company has onboarded approximately 20,000 merchants across its three GCC markets.
MENA fintech funding context
The transaction comes amid a broader slowdown in MENA startup funding. According to data cited from MAGNiTT, in the first half of 2026, MENA-based startups raised USD 1.35 billion across 214 deals, a 22% year-on-year decline in funding value as deal volume fell by 41%. Within this, fintech startups in the region raised USD 617 million across 57 deals in the first half of 2026, with funding down 9% year-on-year and deal count down 50%.
The UAE and Saudi Arabia together accounted for 85% of MENA fintech funding in the period, raising a combined USD 523 million. Against this backdrop, Paymob’s round represents one of the larger fintech transactions in the region so far in 2026
