- Paymob, an Egypt-based B2B merchant financial services platform, raised $22 million in a Series B extension led by EBRD VC (European Bank for Reconstruction and Development).
- Existing investors PayPal Ventures, British International Investment (BII), Dutch bank FMO, A15, Nclude, and Helios Digital Ventures participated, with Endeavor Catalyst joining as a new investor.
- The extension builds on a $50 million Series B in 2022 and an $18.5 million Series A in 2021, bringing total capital raised to nearly $90 million.
- Funds will support expansion, particularly in the Gulf Cooperation Council (GCC) region.
- Paymob holds several key licenses, including:
- Payments Facilitator licence from Egypt’s Central Bank since 2018.
- Payment technology service provider (PTSP) certification from the Saudi Central Bank in 2023.
- Payment service provider (PSP) licence from the Central Bank of Oman (CBO) in January 2024.
- Founded in 2015, Paymob enables nearly 350,000 merchants across MENA to accept 50 payment methods, including digital wallets and QR code payments.
Paymob secures $22m Series B extension to continue GCC roll-out
