The Clap Paymob raised $50 million in a Series B funding round, the largest Series B by an Egyptian fintech startup.
More on Paymob Paymob enables merchants to accept digital payment either online or directly in stores.
The investors? This round was led by PayPal Ventures, the investment arm of PayPal, and Nclude, which is co-founded by three Egyptian banks. A number of venture capital funds based in U.S. and U.K also participated.
How will the funds be used The fresh funding will be allocated to diversifying the company’s products, enhancing its presence in the market, and expand across the MENA region.