TechVoicesEgypt’s Paymob raises $35 million as North Africa takes the month’s biggest cheques
The pre-Series C was part of a September in which Egyptian startups raised $74.6 million, more than any other country on the continent.
Illustration. Reporting is based on company statements and published accounts of the round or the bill.
Paymob, the Egyptian payments company, raised $35 million in a pre-Series C in September, one of the largest disclosed fintech rounds on the continent that month.
Egypt as a whole raised $74.6 million across nine deals, ahead of Kenya and far ahead of Nigeria. The same month included Synapse Analytics, a deep-tech company, at $13 million Series A, and Nawy, a property platform, at $12.3 million.
Paymob’s business is the unglamorous layer under checkout: the acquirer, the methods, the merchant tools. A pre-Series C of this size says investors still prefer payments infrastructure in a market where cards, wallets, and bank transfer all have to work in the same shop.
North Africa’s September was a reminder that “African tech” is not a Lagos story with footnotes. Cairo had the capital. Nairobi had the climate and mobility deals. Lagos had the deal count, and not the dollars.
