{"id":643704,"date":"2024-09-12T00:00:00","date_gmt":"2024-09-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/paymob-secures-usd-22-mn-in-funding\/"},"modified":"2024-09-12T00:00:00","modified_gmt":"2024-09-12T00:00:00","slug":"paymob-secures-usd-22-mn-in-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/paymob-secures-usd-22-mn-in-funding\/","title":{"rendered":"Paymob secures USD 22 mn in funding"},"content":{"rendered":"

Pa<\/strong>ymob secu<\/strong>r<\/strong>es USD 22 mn i<\/strong>n funding:<\/strong> Local fintech startup Paymob<\/a> has closed a USD 22 mn series B extension round, bringing its total series B funding to USD 72 mn, according to a state<\/a>ment (p<\/a>df)<\/a>.<\/p>\n

Who chipped in?<\/strong> The round was led by EBRD Venture Capital<\/a>, with participation from Endeavor Catalyst and existing investors PayPal Ventures, British International Investment (BII)<\/a>, FMO<\/a>, A15<\/a>, Nclude<\/a>, and Helios Digital Ventures<\/a>.<\/p>\n

Where\u2019s the money going?<\/strong> The fresh capital will be used to expand Paymob's market lead in Egypt and accelerate its growth across the region \u2014 the company kicked off operations in the UAE in 2022 and got the regulatory greenlight to launch in Saudi Arabia and Oman last year, becoming the first international fintech player to receive the Payment Service Provider license<\/a> from the Central Bank of Oman.<\/p>\n

What they said:<\/strong> \u201cWe are very excited by our strong prospects in Egypt \u2014 where we hold a market-leading position \u2014 and the significant traction experienced in the UAE since launching operations there,\" co-founder and CEO Islam Shawky said. \u201cThis funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The fresh funds bring the company\u2019s total Series B funding to USD 72 mn<\/p>\n","protected":false},"author":1,"featured_media":643705,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,183,1370,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-fintech","tag-paymob","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"e237f68f-31a6-43ec-8f84-4980cee60a25","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/909.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian fintech player Paymob secures USD 22 mn in funding","related_issue":[643694],"teaser":"The fresh funds bring the company\u2019s total Series B funding to USD 72 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.fdc2786d-24d6-47fe-bb02-f0217677175e.mp3"},"yoast_head":"\nPaymob secures USD 22 mn in funding - 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The round was led by emerging market investor Kora\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/114.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573600,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/11\/egyptian-fintech-firm-paymob-raises-usd-3-5-mn-investment\/","url_meta":{"origin":643704,"position":2},"title":"Egyptian fintech firm Paymob raises USD 3.5 mn investment","author":"enterpriseam admin","date":"11 August 2020","format":false,"excerpt":"STARTUP WATCH- Local fintech startup Paymob has raised USD 3.5 mn in an investment round led by Global Ventures and the Dutch Entrepreneurial Development Bank (FMO), according to an emailed statement (pdf). VC tech fund A15 also contributed to the round with a follow-on investment. 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