Egypt: fintech, e-commerce and telehealth secure top funding in Q3

Egypt: fintech, e-commerce and telehealth secure top funding in Q3

In August, Paymob, a digital payment provider, announced that it had raised $ 3.5 million in an investment round led by Global Ventures and the Dutch Entrepreneurial Development Bank FMO, with a follow-on investment by A15. Established in 2015, Paymob has eight key partners, including telecom operators, banks and non-banking financial institutions. The company's founders say that Paymob processes more than 85 percent of the mobile wallet transactions in Egypt and has already established itself as the no. 1 online payment gateway in terms of number of merchants.Paymob also serves merchants in Pakistan, Jordan and Kenya. Since the COVID-19 pandemic hit, the company has witnessed a drastic increase of 450 percent in merchant on-boarding. "In the midst of this economic situation, we are at a very good spot to help