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Egypt fintech secures $18.5-million in series funding round


Cairo-based fintech startup Paymob has secured $15-million in a Series A funding round led by Global Ventures, the UAE-based venture capital firm with participation from A15, a leading tech investment fund, and FMO, the Dutch entrepreneurial development bank.
This funding round follows on from an investment secured in July 2020 amounting to $3.5-million, bringing the total capital raised to date to $18.5-million.
Paymob has secured $18.5-million
According to a statement released by Paymob, the funding will be used to continue expanding its merchant network, meet the increasing demand for its services, enhance its suite of products further and drive its regional expansion. ....

Saudi Arabia , Al Qahirah , Islam Shawky , Mostafa Menessy , Basil Moftah , Central Bank , Global Ventures , Alain El Hajj , சவுதி அரேபியா , இஸ்லாம் ஷாக்கி , துளசி மொப்தா , மைய வங்கி , உலகளாவிய முயற்சிகள் , அலன் எல் ஹஜ் ,

Paymob completes $18.5 million Series A funding


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 University , Al Qahirah , Saudi Arabia , Islam Shawky , Basil Moftah , Karim Beshara , Mostafa El Menessy , American University Of Cairo , Central Bank , Paymob The Company , Global Ventures , Alain El Hajj , Middle East , Egyptian Fintech , Total Payment Volume , Venture General Partner , அமெரிக்கன் பல்கலைக்கழகம் , சவுதி அரேபியா , இஸ்லாம் ஷாக்கி , துளசி மொப்தா , கரீம் பெஷாரா , அமெரிக்கன் பல்கலைக்கழகம் ஆஃப் கெய்ரோ , மைய வங்கி , உலகளாவிய முயற்சிகள் , அலன் எல் ஹஜ் , நடுத்தர கிழக்கு ,