Paymob Secures $35 Million Pre-Series C Co-Led by Mubadala and EBRD to Accelerate MENA Expansion

Editorial Calendar World-Region-Country Middle East & Africa Paymob Secures $35 Million Pre-Series C Co-Led by Mubadala and EBRD to Accelerate MENA Expansion The capital injection follows an 18-month period of operational scaling for the platform. During this timeframe, Paymob tripled its consolidated revenues across its four core markets, while its Gulf Cooperation Council (GCC) revenues surged sevenfold. GCC operations now generate nearly half of the company’s total revenue, driven largely by merchant onboarding following Paymob’s acquisition of a Retail Payment Services Licence from theCentral Bank of the UAE (CBUAE)in January 2025.

Since securing the UAE license, the provider has onboarded approximately 20,000 merchants across its three active GCC markets. Merchants operating across the Middle East and North Africa (MENA) have historically struggled against a deeply fragmented payments environment. To maintain competitive checkout conversion, businesses typically must manage seven to eight distinct payment methods—spanning Buy Now, Pay Later (BNPL) platforms, local card schemes, and bank installment plans—each requiring separate contract negotiations, API integrations, and reconciliation schedules.

Paymob addresses this structural friction by unifying fragmented rails into a single technology layer. Through a single contract, one API, and a unified dashboard, merchants gain immediate access to more than 60 localized online and offline payment methods. Today, the omnichannel platform supports over 390,000 merchants across Egypt, the UAE, Saudi Arabia, and Oman, allowing enterprise and SME clients to process transactions, manage working capital, and scale across borders.

“Paymob morphed into a regional platform over the past 18 months, propelled by the exponential growth of our GCC business,” statedIslam Shawky,co-founder and chief executive officer of Paymob. “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.” The addition of Mubadala to Paymob’s cap table