Egypt's Paymob scoops $18.5 million in new funding

By Editorial Team6 days ago

AD

Egyptian digital payments provider Paymob is to further its expansion into Saudi Arabia and other Middle East markets after receiving an $18.5 million cash injection in a funding round led by UAE-based VC Global Ventures.

The company has raised $15 million of new capital from existing investors in a second tranche of its Series A fundraising activity. It follows a first tranche of $3.5 million, raised in July 2020.

Other investors include tech investment fund A15 and FMO, the Dutch entrepreneurial development bank.

Continue read on finextra.com