Fintech Paymob raises US$18.5m Series A round to expand its merchant network

EGYPT – Cairo-based fintech Paymob has announced that it raised US$18.5 million in a Series A round led by Global Ventures, Egypt’s largest-ever Series A round raised by a fintech company. A15 and FMO, the Dutch entrepreneurial development bank, were also involved in the transaction. The company aims to accelerate its expansion to Saudi and other regional markets this year. It will also use the funds to expand its merchant network and further enhance the suite of products. The round is made up of US$15 million in glowing funding and…

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