Paymob offers an omnichannel payment gateway supporting over 50 payment methods, including wallets, cards, BNPL and QR, and serves more than 350,000 merchants across five MENA countries. The company has expanded from Egypt and Pakistan into Oman, Saudi Arabia and the UAE while building products such as an SMB app, embedded checkouts, lending and advanced settlements. Paymob has focused on cross-selling additional services to increase average revenue per merchant and partners with platforms like Shopify and Tabby to improve margins. It reported a $5 billion total payment volume and 120 million transactions in 2020, though updated TPV and transaction figures were not disclosed. The fintech became profitable in Egypt in Q2 of this year, with revenues in Egypt growing sixfold since mid-2022, while it remains unprofitable in its other markets. Paymob employs just over 1,000 people and continues pushing expansion and product development to capture faster-growing digital payment adoption in the Gulf. Paymob provides tech-driven payment channels aimed at reducing costs for SME merchants. The company’s product focuses on enabling more efficient, technology-enabled payments to improve economic opportunities for owners and employees of small businesses. British International Investment says its funding will support Paymob’s growth and the scaling of its payment solutions. Paymob is domiciled in the Netherlands and the investment delivers impact in Egypt, Pakistan and Saudi Arabia. BII committed $5m in April 2022 as an equity investment to support the company’s expansion. An Environmental and Social Action Plan (ESAP) was agreed with Paymob, focusing on updating HR policies and developing a safeguarding policy. Paymob offers a payment gateway with APIs for online merchants, a POS solution for in‑store card acceptance, and payment links for mobile‑wallet transactions. The platform processes a large share of Egypt’s mobile‑wallet volume — the company says it handles 85% of such transactions — and claims to be the country’s largest payment facilitator. Paymob serves more than 35,000 local and international merchants and reported over $5 billion in total payment volume; monthly revenue grew more than 5x last year. The company is present in Egypt, Kenya, Pakistan and Palestine and plans regional expansion with an imminent entry into Saudi Arabia, then wider Sub‑Saharan rollouts after focusing on the GCC. Post‑raise, Paymob intends to expand its merchant network, meet increasing demand and enhance its product offerings.

Total raised

$91M

Funding rounds

3

Latest round

Series B

Latest activity

Sep 2024