{"id":101406,"date":"2024-09-12T22:38:43","date_gmt":"2024-09-12T19:38:43","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=101406"},"modified":"2024-09-12T22:38:45","modified_gmt":"2024-09-12T19:38:45","slug":"ebrd-others-invest-22-m-to-promote-digital-transition-in-egypt","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-others-invest-22-m-to-promote-digital-transition-in-egypt\/","title":{"rendered":"EBRD, others invest $ 22 m to promote digital transition in Egypt"},"content":{"rendered":"\n<p>         <\/p>\n\n\n\n<p dir=\"ltr\">The <a href=\"https:\/\/www.csregypt.com\/en\/ebrd-allocates-20-m-loan-to-boost-smes-green-investments-in-egypt\/\">European Bank for Reconstruction and Development (EBRD<\/a>) is supporting the digital transition in Egypt\u00a0through its equity investment in Paymob as part of a $ 22 million financing round.\u00a0<\/p>\n\n\n\n<p dir=\"ltr\">The investment was led by the EBRD, along with participation from existing investors: British International Investment (BII), Global Ventures, A15, FMO, PayPal Ventures and Endeavor Catalyst.&nbsp;<\/p>\n\n\n\n<p dir=\"ltr\">Paymob is the leading digital payment processing company in the country offering online payments, digital wallets and value-added services (advanced settlement, digital onboarding, SaaS book-keeping) for small and medium-sized enterprises. The company recently expanded into Oman, Saudi Arabia and the United Arab Emirates, with the aim of becoming the leading digital payments company in the Middle East and North Africa region.&nbsp;<\/p>\n\n\n\n<p dir=\"ltr\">The Bank\u2019s investment will support Paymob\u2019s product development and sales and marketing activities, accelerating growth in Egypt and supporting international expansion.&nbsp;<\/p>\n\n\n\n<p dir=\"ltr\">The EBRD\u2019s participation is part of its\u202f<a href=\"https:\/\/www.ebrdvcip.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Venture Capital Investment Program<\/a>, which backs early and growth-stage technology companies via equity and equity-linked instruments. The program\u2019s overarching objectives are to develop and commercialize innovative technology and draw in top venture capital funds to the EBRD regions, where the availability of venture capital remains very low and venture capital systems are still nascent.&nbsp;<\/p>\n\n\n\n<p dir=\"ltr\">The EBRD puts a\u202f<a href=\"https:\/\/www.ebrd.com\/ebrd-digital-approach.html\" target=\"_blank\" rel=\"noreferrer noopener\">digital<\/a>\u202ffocus at the heart of its activities across its regions \u2013 be it in investments, policy engagement or advisory services \u2013 and aims to play a leading role in shaping the impact of digitalization.\u00a0<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Bank for Reconstruction and Development (EBRD) is supporting the digital transition in Egypt\u00a0through its equity investment in Paymob as part of a $ 22 million financing round.\u00a0 The investment was led by the EBRD, along with participation from existing investors: British International Investment (BII), Global Ventures, A15, FMO, PayPal Ventures and Endeavor Catalyst.&nbsp; [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":101407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,13332],"tags":[16218,15181,6463],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - 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