Kora Capital, PayPal Ventures, and Clay Point led a $50m Series B funding round in Paymob.

Investments firms Kora Capital, PayPal Ventures, and Clay Point led a $50m Series B funding round in Paymob, a developer of an online payment software. “We are thrilled to complete this significant fundraising with the support of such renowned international investors including, PayPal Ventures, the venture capital arm of a global pioneer in the digital payment space. It is a major endorsement of the strategy we have implemented to date and the scale of the opportunities we can harness. Central Bank of Egypt initiatives that are continuously being introduced in the market to support fintech companies were key to Paymob's growth. The Central Bank has created a regulatory framework to help fintech flourish and participate in making Egypt's digital financial inclusion ambitions a reality," Islam Shawky, Paymob Co-Founder and CEO.