Paymob, an Egypt-based fintech platform that provides payment solutions to digital financial service providers, announced it has raised US$50 million in a Series B funding round. The funds will be used to boost the company’s growth by expanding its product suite, reinforcing its market leadership in Egypt, and expanding its reach throughout the Middle East and Africa. Kora Management, PayPal Ventures, and Clay Point Investors led the round with participation from Helios Investment Partners, British International Investment, and Nclude. This is Egypt’s largest ever fintech Series B investment, bringing Paymob’s total funding to over US$68.5 million. It also comes at a critical juncture as the region leans into digital transformation.
Paymob Raises $50 Million in Series B Funding Round