Paymob secures $22m Series B extension to continue GCC roll-out

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.