Paymob Raises $35M Pre-Series C to Expand Payments

Paymob, a Cairo-based payments technology company, announced it raised $35 million in a pre-Series C funding round as it prepares for a full Series C fundraising.

The company plans to use the funds to scale its technology platform, expand commercial operations and increase investment in product development and customer support ahead of the planned Series C.

Paymob provides online payment gateways and in-store point-of-sale systems that connect merchants to card networks and digital payment channels.

The financing included participation from both new and existing backers. Paymob described the round as designed to support growth in its existing markets and to ready the business for a larger institutional raise.

Paymob works with merchants of different sizes across multiple markets to accept and process digital payments. The firm has focused on integrating online and offline payment channels and on tools for transaction management and payment reconciliation.

The new funding follows prior financing rounds as Paymob expanded its product set and regional footprint.