Paymob, Egypt’s market-leading omni-channel financial services platform, has raised $50 million in Series B funding.
The round was led by Kora Capital, PayPal Ventures, and Clay Point.
Other new participating investors included Helios Digital Ventures, British International Investment, and Nclude. All existing investors, including A15, FMO, and Global Ventures also participated.
The proceeds will be used to turbocharge the company to expand its product range, reinforce its leadership in the Egyptian market, and expand into new markets across the Middle East and Africa region.
This funding round is the largest ever fintech, Series B in Egypt, and brings the total funding of Paymob to over $68.5 million making it one of the most funded companies in the region.
