Paymob raised $35 million in a pre-Series C funding round to expand its payments business across the Middle East and Africa. Mubadala Investment Company and the European Bank for Reconstruction and Development co-led the round. British International Investment, Global Ventures and Development Partners International's DPI Venture Capital also participated. The company did not disclose a valuation.
The Egypt-founded fintech provides payment acceptance and financial services to merchants. Its platform spans online and in-person transactions, giving small businesses and larger retailers access to multiple payment methods. The new capital follows earlier institutional backing as Paymob has entered additional regional markets.
CAPITAL TARGETS MERCHANT COVERAGE
Paymob said the proceeds would support geographic expansion and broader payment coverage. That strategy places the company in markets where digital acceptance is growing but many smaller merchants still rely heavily on cash or fragmented payment tools.
Mubadala described the investment as support for the company's next growth phase, while EBRD participation adds a development-finance investor to the round. Independent reporting by FinTech Futures and PYMNTS confirmed the financing amount and lead investors.
EXECUTION WILL DETERMINE SCALE
The funding gives Paymob resources to invest in product distribution, market entry and merchant acquisition. Expansion will also require country-specific licensing, local bank relationships and reliable settlement infrastructure, so the round itself does not guarantee uniform regional growth.
The next milestones will be disclosed market launches and evidence that merchant usage grows alongside coverage. Investors will also watch whether Paymob can translate wider acceptance into durable transaction volumes before any later Series C financing.