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Paymob Extends Series B Funding To $72M Amid Continued Growth
The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.
Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.
The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.
This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.
Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.
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The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.
Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.
News
Noon And Yango Switch On Robot Deliveries In Dubai
The rollout folds autonomous couriers into noon’s rapid-delivery network as the UAE tests everyday autonomy.
Noon and Yango Group have signed an agreement to put autonomous robot deliveries into commercial use in Dubai, turning Yango’s earlier pilots into a daily service for noon Minutes orders. The launch in Sobha Hartland is the first full integration of Yango Autonomy’s electric robots with a major e-commerce network in the region, with wider deployment planned across Dubai and, later, other GCC markets.
Residents can choose a robot at checkout, track it in the app and unlock its compartment once it arrives. The hardware runs on Yango’s AI navigation and routing stack, which plans paths, avoids obstacles and yields to pedestrians. The units had already covered more than 1,500 kilometers during previous Dubai pilots, a test bed that demonstrated their ability to operate in mixed pedestrian environments and dense residential streets.
The rollout adds a contactless option to noon’s last-mile network and is positioned as extra capacity during peak periods. “Partnering with Yango Group lets us bring a future-ready delivery option straight to our customers,” said Ali Kafil-Hussain, noon’s Chief Business Officer. Noon has used Minutes to set rapid-delivery expectations in UAE cities; autonomous units now slot into that same high-frequency model.
Regulatory clearance from Dubai’s Roads and Transport Authority underpins the move. The RTA authorized Yango’s robots to operate on public walkways and in neighborhoods, smoothing the shift from controlled trials to commercial work. Dubai has framed autonomous mobility as part of its smart-city buildout, and the partners lean on that agenda to accelerate integration.
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For Yango, the partnership is an anchor for its autonomy platform in the Gulf. Islam Abdul Karim, Yango’s Middle East regional head, said the aim is to make autonomous delivery an “everyday, reliable service” for UAE communities. The company views operational data from early districts as the basis for scaling into more communities and, eventually, cross-border rollouts.
The move lands as Gulf retailers search for faster fulfilment and lower-emission logistics. Autonomous couriers remain a small share of last-mile delivery, but Dubai’s approvals and early usage data give the partners a clearer path to turn pilots into durable infrastructure.
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