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Paymob completes $18.5 million Series A funding Image courtesy of Paymob Egypt-based fintech startup Paymob has raised $18.5 million in its Series A round, led by Global Ventures with participation from A15 and Dutch entrepreneurial development bank FMO. Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa El Menessy, Paymob provides online and offline merchants with digital payment solutions. Its revenues grew 5x in 2020 and the startup currently serves 35,000 merchants across Egypt, Kenya, Pakistan, and Palestine. The investment will be used to expand to Saudi Arabia and other markets in the Middle East this year. Press Release Paymob (“the Company”), Egypt’s market-leading digital payments provider, announces the largest ever Series A fund raise by an Egyptian company and one of the largest fintech equity rounds in North Africa.

American universityAl qahirahSaudi arabiaIslam shawkyBasil moftahKarim besharaMostafa el menessyAmerican university of cairoCentral bankPaymob the companyGlobal venturesAlain el hajjMiddle eastEgyptian fintechTotal payment volumeVenture general partner