Economy

Egyptian fintech Paymob raises $50m in a series B funding round

Follow-ups -eshrag News:

Author: 
Wed, 2022-05-11 18:39

RIYADH: Paymob, Egypt’s leading merchant financial services platforms, raised $50 million in a series B funding round led by venture capital firms PayPal Ventures, Kora Capital, and Clay Point.

Paymob uses payment infrastructure to enable merchants to accept online payments whether online or in-store while providing access to financial services.

The company will use its acquired funds to boost its presence in the Egyptian market, expand its product range, and enter new markets across the Middle East and Africa region.

Founded in 2015, the company managed to grow the number of merchants and monthly volumes by four times on a year-on-year basis from 2021.

Main category: 
Business & Economy
Tags: 
Egypt
fintech
funds

Noting that the news was copied from another site and all rights reserved to the original source.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button