PayPal Ventures Leads $22 Million Funding Round for Paymob

PayPal Ventures Leads $22 Million Funding Round for Paymob

Egyptian fintech company Paymob has achieved a significant milestone, successfully raising $22 million in a Series B funding round. This investment, led by PayPal Ventures with participation from existing investors Global Ventures, A15, and FMO Investment Management, will support Paymob’s expansion plans across the Middle East and Africa region.

Empowering Businesses with Comprehensive Payment Solutions

Founded in 2015 by Mostafa Menessy, Islam Shawky, and Alain El Hajj, Paymob offers a comprehensive suite of payment solutions for businesses. The company’s platform enables merchants to accept various payment methods, including mobile wallets, cards, and buy-now-pay-later options.

As Islam Shawky, co-founder and CEO of Paymob, explains, “We help businesses accept, pay, manage, and grow. Acceptance is the core of our business, and we cross-sell other services based on it.”

Paymob’s approach goes beyond simple payment processing. Once businesses are onboarded, Paymob assists them with payables, working capital, and financial management tools, providing a holistic solution for their financial needs.

Expanding Reach and Enhancing Technology

The new funding will be used to strengthen Paymob’s presence in existing markets and expand into new territories. The company also plans to invest in product development and enhance its technology infrastructure to deliver even better services to its customers.

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Building on Previous Success

This Series B funding round follows Paymob’s successful Series A round of $18.5 million in 2021. To date, the company has raised over $40 million in total funding, demonstrating strong investor confidence in its vision and growth potential.

A Visionary Fintech Company

Established in 2015, Paymob is a leading fintech company that empowers financial service providers across the Middle East and Africa.

Paymob is a leading fintech company that offers a comprehensive suite of payment solutions for businesses in the Middle East and Africa. With a focus on innovation and security, Paymob empowers businesses of all sizes to accept and send payments seamlessly.

A Wide Range of Payment Options

Paymob provides a diverse range of payment options to cater to your customers’ preferences and maximise your revenue potential. These include:

  • Credit and Debit Cards: Accept major credit and debit cards from leading providers.
  • Online Mobile Wallets: Offer convenient and secure payment options through popular mobile wallets.
  • Cash on Delivery: Provide flexibility for customers who prefer to pay upon receipt of goods.
  • Loyalty Points Redemption: Allow customers to redeem loyalty points for purchases.
  • Payment Links: Generate custom payment links for easy online transactions.
  • Kiosk Payments: Accept payments through Aman and Masary kiosks for added convenience.

Unparalleled Security and Compliance

Paymob’s online gateway is fully PCI DSS certified, ensuring the highest level of security for every transaction. This certification guarantees that your customers can make secure payments without leaving your platform.

Powerful Features Built into Every Solution

Paymob’s solutions are packed with powerful features designed to enhance your business operations:

  • Robust APIs: Integrate payment solutions seamlessly into your existing systems.
  • Integrated Fraud Detection: Protect your business from fraud with advanced machine learning algorithms.
  • Interactive Dashboards: Monitor transactions in real-time and analyse performance with insightful dashboards.
  • PCI Security Certification: Ensure secure payment processing for your customers.

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Paymob’s Comprehensive Payment Solutions

  • Online Payment: Accept payments on your website or mobile app.
  • POS Solution: Process payments in-store with our POS terminals.
  • Payment Link: Generate custom payment links for easy transactions.
  • Subscriptions: Offer flexible subscription plans to your customers.
  • Installments: Increase sales by providing installment payment options.
  • Marketplace: Use Paymob’s marketplace to accept payments and distribute payouts automatically.
  • Payouts: Send secure mass payouts to employees and partners.

Choose Paymob for a Seamless Payment Experience

With Paymob, you can easily accept payments from customers across the globe. Their user-friendly platform and powerful features make it simple to integrate payment solutions into your business.Start using Paymob today and experience the difference.

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