Egypt's Paymob scoops $18.5 million in new funding

By Editorial Team6 days ago


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.

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