Paymob, started by three college friends, lands another $22 million and is profitable in Egypt
- Launch of Paymob as a payment infrastructure in 2015.
- Raised over $90 million, including a $22 million extension to its Series B round.
- Expanded from 100,000 merchants to over 350,000 in two years.
The rapid growth of Paymob illustrates the potential for fintech startups in underserved markets, particularly in regions like the Middle East and Africa. As digital payment adoption accelerates, companies that can effectively address the needs of local merchants will likely thrive. This case also highlights the importance of integrating innovative solutions to bridge gaps in financial technology, which could serve as a model for other emerging markets.
