MENA Payments Provider Paymob Raises $35M From Mubadala and EBRD

The Middle East and North Africa payments infrastructure firm secured $35m in a pre-Series C funding round jointly led by Mubadala Investment Company, Abu Dhabi's sovereign investor, and the European Bank for Reconstruction and Development.

Existing backers British International Investment, Global Ventures, and DPI Ventures also participated in the round.

Mubadala's statement said the capital will fuel Paymob's continued regional expansion throughout MENA.

The company intends to widen its core digital payments acceptance infrastructure and launch new products targeting SME merchants and agentic commerce — AI-driven automated purchasing systems.

This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap to become the go-to payments platform for agentic commerce, co-founder and CEO Islam Shawky said.

The investment follows what Paymob described as strong financial and operational performance over the past year and a half. Consolidated revenues across its four markets tripled during that period, while GCC revenues climbed sevenfold.

Nearly half the company's total revenue now originates from Gulf Cooperation Council markets.

Since receiving its Retail Payment Services Licence from the Central Bank of the UAE in January 2025, Paymob has onboarded roughly 20,000 merchants across its three GCC markets.

The company's omnichannel gateway now supports more than 60 payment methods and serves over 390,000 merchants across the region.

Founded in 2015, Paymob first obtained licensing from the Central Bank of Egypt before expanding into the UAE in 2023 and securing regulatory approval from the Emirati central bank.

That same year the firm opened an office in Riyadh and received a Payment Technical Service Provider licence from Saudi Payments, allowing it to begin operations in Saudi Arabia. It also established an Oman office in 2023.

Paymob's wider investor base includes PayPal Ventures, Kora Capital, Clay Point Capital, FMO, A15, British International Investment, Helios Digital Ventures, Global Ventures, and DPI Ventures.