Paymob has raised US$35 million in a pre-Series C round, co-led by Mubadala Investment Company and the European Bank for Reconstruction and Development.
British International Investment, Global Ventures and DPI Ventures also took part.
The company will use the funds to expand its payments acceptance business across the Middle East and North Africa.
It will also develop new products for SME merchants, including tools for agentic commerce, payments initiated by AI agents on a user’s behalf.
Paymob received a Retail Payment Services Licence from the Central Bank of the UAE in January 2025.
Since then, it has onboarded around 20,000 merchants across its three GCC markets, the UAE, Saudi Arabia and Oman.
“This Pre-Series C funding round will help us accelerate our growth plan across the MENA region and fast-track our product roadmap to become the go-to payments platform for agentic commerce,”
said Islam Shawky, Co-Founder and Chief Executive Officer of Paymob.
“With a scalable payments platform and strong growth potential across the GCC,
Paymob is well positioned to support merchants, advance financial inclusion and contribute to economic diversification,”
said Ali Eid Al Mheiri, Executive Director of UAE Diversified Assets at Mubadala’s UAE Investments Platform.
Featured image: Edited by Fintech News UAE, based on image by user26852285 via Magnific.
