Paymob: transforming digital payments in Egypt and the region for a cashless society
Publication date: 20 September 2024
Abstract
Learning outcomes
After completion of the case study, the students will be able to analyze the FinTech industry in emerging markets, distinguish the growth strategies for startups in the hyper-growth phase, using the Ansoff matrix, evaluate and select geographical markets for expansion (foreign country selection) and understand the liability of foreignness concept.
Case overview/synopsis
In 2015, Islam Shawky, Alain Al-Hajj and Mostafa Menessy founded Paymob in Egypt, a FinTech start-up providing technological and financial solutions to consumers and merchants in the country. The company had grown into one of Egypt’s most prominent digital payment providers by deploying infrastructure and technologies that empower the underserved with access to financial services. In 2021, Paymob had gained a lot of support from venture capital investors that ended with closing the largest in Egypt Series A fund of $18.5m led by Dubai-based venture capital firm Global Ventures. Although Paymob had already reached great success in Egypt, the founders’ vision was to become the regional leader of digital payments, focusing on small and medium-sized enterprises. So, they are considering regional markets similar to Egypt’s, such as the Kingdom of Saudi Arabia, a call with a lot of structure but a lot of competition, and Pakistan, a market with much less competition but relatively unstructured. The founders found themselves in early 2022 deciding between these two markets in preparation for the next round of Series B $50m funding.
Complexity academic level
This case study can be useful for courses in executive education.
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS 3: Entrepreneurship.
Keywords
Acknowledgements
Disclaimer: This case is written solely for educational purposes and is not intended to represent successful or unsuccessful managerial decision-making. The authors may have disguised names; financial and other recognizable information to protect confidentiality.
Citation
Ismail, A., Ghalwash, S., Ballesteros-Sola, M. and Dahawy, A. (2024), "Paymob: transforming digital payments in Egypt and the region for a cashless society", , Vol. 14 No. 3. https://doi.org/10.1108/EEMCS-09-2023-0365
Publisher
:Emerald Publishing Limited
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