Paymob Raises $35M for MENA Payments

Paymob has raised fresh growth capital as the MENA fintech market moves deeper into merchant infrastructure rather than consumer wallets alone.

What happened

The company raised a $35 million pre-Series C, co-led by Mubadala and the EBRD, with participation from British International Investment, Global Ventures and DPI Ventures.

Paymob provides payment infrastructure for merchants and plans to use the funding to expand across the Middle East and North Africa while adding more products for small and medium-sized businesses.

The company says consolidated revenue has tripled over the last 18 months, while revenue from the Gulf region has increased sevenfold.

Why it matters

Payments remain fragmented across MENA, where merchants often need to support cards, wallets, instalments and local payment methods across multiple markets.

Infrastructure providers that simplify that complexity can become a foundational layer for thousands of merchants rather than competing directly for consumer attention.

Paymob is also preparing for agentic commerce, where software agents may increasingly initiate transactions on behalf of users. That will require payment systems to handle identity, permissions and machine-triggered transactions differently from today's checkout flows.

The bigger picture

The next wave of fintech growth in emerging markets is increasingly about infrastructure. Merchant acquiring, fraud, compliance and orchestration are becoming more valuable as digital commerce scales. Paymob's round shows investors still see room for regional payment platforms even in a market dominated globally by large incumbents.