Paymob Raises $35M to Expand MENA Payments Infrastructure
Paymob Raises $35M to Accelerate MENA Expansion Paymob announced just now that it has raised $35 million in the current Pre-Series C funding round, bringing its total funding to more The post Paymob Raises $35M to Expand MENA Payments Infrastructure appeared first on Ventureburn .
Paymob has successfully raised $35 million in the Pre-Series C funding round, raising its total funding to over $125 million. The new investors include Mubadala Investment Company, EBRD, British International Investment, Global Ventures, and DPI Ventures. This capital will be used to support Paymob's expansion across the Middle East and North Africa (MENA) region, where the company already operates in Egypt, the UAE, Saudi Arabia, and Oman.
Currently, Paymob serves over 390,000 merchants, processing more than 60 payment methods, including subscriptions and installment payments. The company's platform consolidates various payment channels, reducing the technical and operational burden on merchants. Paymob's expansion is driven by the strong growth in the Gulf region, where its revenue has tripled over the past 18 months and now accounts for nearly half of its total revenue.
The company aims to provide a unified infrastructure for managing multiple payment channels, addressing the fragmented payments market in the MENA region. With the latest funding, Paymob will develop products for small and medium-sized businesses and support emerging agentic commerce applications, positioning its platform for future growth in this emerging market.
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