PayPal Unveils USD 100 M Fund To Back African And Middle East Startups

PayPal has announced a USD 100 M fund to back startups across Africa and the Middle East, marking one of the global payments giant’s most significant pushes into the region. The funds will be deployed through PayPal Ventures, the company’s corporate venture capital arm, via minority equity stakes, potential acquisitions, and follow-on funding.

The initiative builds on PayPal’s existing bets in African fintech, including stakes in South Africa’s Stitch and Egypt’s Paymob. Both companies are at the forefront of building financial infrastructure, a space PayPal appears eager to deepen its footprint in.

The USD 100 M commitment follows the launch of PayPal’s regional hub in Dubai earlier this year. According to Otto Williams, PayPal’s Regional Head, the strategy is designed to link African startups more directly to global digital commerce flows.