Paymob Announces $22m Series B Extension Round

Paymob, a leading financial services enabler in the MENA region, says it has successfully achieved a $22 million Series B extension round – taking the firm’s total Series B funding to $72 million. EBRD Venture Capital led the funding with participation from Endeavor Catalyst.

According to the company, all existing investors PayPal Ventures, British International Investment, FMO – Dutch entrepreneurial development bank, A15, Nclude and Helios Digital Ventures, participated in the round, reaffirming their endorsement of the business model, strategy and leadership in the regional fintech sector.

Initially established in 2015, Paymob serves as a payment infrastructure for digital wallets across Egypt, Saudi Arabia, the United Arab Emirates and Oman. It takes pride in its solutions to enable small and medium enterprises to thrive in the digital economy.