Egyptian payments startup Paymob raises $3.5 million to fuel its regional expansion

Egyptian payments startup Paymob raises $3.5 million to fuel its regional expansion

Cairo-based payment startup Paymob has raised $3.5 million investment in a round led by Dubai's Global Ventures and Dutch Entrepreneurial Development Bank FMO with the participation of existing investor A15, it announced in a statement today to MENAbytes.

Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa El Menessy, Paymob enables online and offline merchants to accept payments from their customers using different products and solutions. For online merchants, Paymob offers a complete payment gateway that can be integrated into a merchant's website or mobile app using its APIs. The payment gateway that comes with all the standard features also enables the merchants to receive recurring payments from their customers and offers installments too.

Its second online solution, payment links, enable merchants to receive payments by sharing a link with