Paymob Secures $72M in Series B Funding Round to Revolutionize Financial Services in MENA-P Region

Paymob, the leading financial services enabler in the MENA-P region, has announced the successful raising of $72 million in its latest funding round, a significant boost for the fintech powerhouse committed to revolutionizing digital payments for SMEs. Founded in 2015, Paymob has established itself at the forefront of the financial technology landscape, being the first to receive the Central Bank of Egypt’s Payments Facilitator license in 2018. With a mission to empower small and medium enterprises (SMEs), Paymob provides an omnichannel financial technology platform that allows businesses of all sizes to seamlessly accept online and offline payments, manage their finances, and cultivate growth all from one robust interface. This latest capital infusion will enable Paymob to further enhance its comprehensive suite of payment solutions and expand its reach across the MENA-P region, where it currently supports over 250,000 merchants, including renowned names like Foodics, IKEA, Uber, and the Chalhoub Group. The funding will also bolster Paymob’s operational capabilities in newly entered markets such as Pakistan, Saudi Arabia, and Oman, where it recently became the first international fintech company to receive a payments service provider license. With a dedicated team of 1,000 employees and offices across Egypt, KSA, the UAE, and Oman, Paymob is poised to continue its trajectory of innovation, providing cutting-edge payment solutions that not only meet the needs of today's businesses but also pave the way for future growth and success in the region.