Paymob raises $35m as GCC revenue jumps sevenfold

Egypt-based Paymob has closed a $35m pre-Series C round to expand its payments infrastructure business across MENA, with a clear emphasis on SME merchants and agentic commerce. For high-risk PSPs, the useful detail is not the funding headline itself but the operating model: more merchants, more local payment methods, and a continued push to unify settlement and integration in a fragmented region.

1. The round was co-led by Mubadala Investment Company, an Abu Dhabi-based sovereign investor, and the European Bank for Reconstruction and Development (EBRD). British International Investment, Global Ventures and DPI Ventures also participated.
2. Paymob says the fresh capital will support both its core digital payments acceptance operations and new products for SME merchants and agentic commerce use cases, as it continues to scale across MENA.
3. The company says its consolidated revenues across its four markets have tripled over the past 18 months. Revenue from the Gulf Cooperation Council (GCC) region has grown sevenfold over the same period and now accounts for close to half of total income.
4. Since receiving its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, Paymob says it has onboarded around 20,000 merchants across its three GCC markets.
5. Paymob frames its pitch around fragmentation: merchants in the region often need to manage seven to eight payment methods, including buy-now-pay-later providers, local card networks and bank instalment schemes. The company says its platform consolidates access to more than 60 payment methods under a single contract, API and dashboard.

Paymob describes itself as an omnichannel financial technology platform built for SME growth, with online and offline acceptance, transaction processing and financial management under one technology layer. Co-Founder and Chief Executive Officer Islam Shawky said the company has “morphed into a regional platform” over the past 18 months, driven by GCC growth, while Mubadala’s Ali Eid Al Mheiri said the investment aligns with the UAE’s push to strengthen its digital economy and regional fintech position.