Egypt: Fintech companies plan overseas expansion

By Sherif Tarek
Posted on Thursday, 28 April 2022 18:08

Egypt's Paymob is a payments service provider(twitter @PaymobCompany)
Egypt's Paymob is a payments service provider(twitter @PaymobCompany)

Egyptian fintech companies are increasingly embarking on overseas expansion, building on ample funding rounds to realise their international ambitions.

Paymob, an Egyptian e-payment solutions provider, kicked off operations in Pakistan this month, a few days after securing $15m Series A funding from UAE’s Global Ventures, Dutch development bank FMO, and Cairo-based A15.

During the period from last year until early April 2022, Paymob was one of 15 Egyptian fintech companies that secured various rounds of funding worth in total $265.6m from multiple venture capital (VC) investors, according to investment bank Renaissance Capital.

Soaring VC funding