Paymob raises a total of $72 Million in Series B

Endeavor entrepreneurs, Islam Shawky, Alain El Hajj, and Mostafa Menessy co-founders of Paymob, have successfully raised a $22 million Series B extension round, led by EBRD Venture Capital.

We’re also thrilled to announce that Endeavor Catalyst joined in this round and Allen Taylor, Managing Partner at Endeavor Catalyst, stated:

“At Endeavor, we have witnessed fintech in the Middle East gain increasing global attention. Building on this momentum, we are thrilled to support entrepreneurs in this new round of regional expansion for Paymob, advancing their goals of enabling businesses to thrive in the digital economy. Since their selection as Endeavor Entrepreneurs in 2022, we have been dedicated to supporting their growth and are excited to see their journey unfold further.”

Since 2015, Paymob has been at the forefront of Egypt’s digital payment revolution, empowering over 100K merchants with seamless solutions for managing finances. This new funding brings their total Series B to an impressive $72M, enabling further growth across the MENA region.

Paymob’s solutions empower merchants to accept, manage, and grow their finances seamlessly, whether online or offline.

This funding round is a testament to the confidence investors have in Paymob’s robust business model and strategic vision. With the support of existing investors like PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures, Paymob is well-positioned to accelerate its growth strategy across the MENA region.

Congratulations to Islam, Alain, Mostafa, and the entire Paymob team on this remarkable achievement. We are excited to see what the future holds.