Paymob raises US$35 million to expand payments operations across MENA

Egyptian payments startup Paymob has secured US$35 million in pre-Series C funding to expand across the Middle East and North Africa, Disrupt Africa reported. Mubadala Investment Company and the European Bank for Reconstruction and Development co-led the round, with British International Investment, Global Ventures and DPI Ventures also participating. The capital will support expansion of digital payments acceptance and new products for small and medium-sized merchants and commerce involving AI agents. Paymob offers more than 60 payment solutions and serves close to 350,000 merchants. It has expanded into the United Arab Emirates, Saudi Arabia and Oman; the new products remain part of its planned rollout.