In July 2020, Paymob raised $3.5 million as its first tranche of Series A investment. For offline merchants, Paymob has a POS solution where they can receive in-store card payments. Aside from Egypt, Paymob is also present in Kenya, Pakistan and Palestine. This growth allowed the fintech company to raise the second tranche of investment after closing just $3.5 million initially. But will its longstanding presence pose a challenge to Paymob’s quest to become a dominant fintech company as well?

Source: The North Africa Journal April 08, 2021 10:44 UTC