Backed by an initial investment of $11 million from the Bill & Melinda Gates Foundation, the initiative leverages Field’s proprietary technology, distribution network, and financing services to deliver innovative therapies to communities in need.

Field’s service currently supports over 40,000 healthcare providers in Kenya and Nigeria, providing them with the tools and resources necessary to improve patient outcomes.

The company’s CEO and Founder, Michael Moreland, highlighted the importance of utilizing digital technology to enhance access to quality care, emphasizing that the partnership with the Bill & Melinda Gates Foundation will accelerate progress in maternal and child survival.

According to data, women in sub-Saharan Africa face a disproportionately high risk of maternal mortality, with a rate that is significantly higher than in developed regions.

To address this urgent issue, Field’s service will provide expectant mothers with access to emerging therapies such as heat-stable carbetocin and calibrated drapes, which can help prevent and treat postpartum hemorrhage.

Despite advancements in healthcare delivery, economic challenges can hinder progress in improving maternal and child health.

Field is committed to overcoming these obstacles by providing coordinated systems and processes that support the implementation of innovative interventions.

Founded in 2015, Field has established itself as a leading pharmaceutical supply chain provider in Nigeria and Kenya.

The company’s distribution service, Shelf Life, reaches over 2,500 pharmacies and hospitals across the two countries, ensuring access to essential medicines and healthcare products.

Additionally, Field offers trade financing solutions to address working capital constraints and facilitate investments in new medical interventions.

This brings the total amount raised in the round to $72 million, following a $50 million investment in 2022.

The latest round was led by the European Bank for Reconstruction and Development (EBRD) Venture Capital, with participation from PayPal Ventures, Endeavor Catalyst, British International Investment (BII), FMO, A15, Nclude, and Helios Digital Ventures (HDV).

Paymob plans to use the fresh capital to expand its operations across the Middle East and North Africa (MENA) region, focusing on enhancing its product suite and services.

Since receiving the initial portion of its Series B funding, the company has already made significant strides, launching an app for small and medium-sized businesses (SMBs) and introducing new payment methods like embedded checkout experiences and products such as lending and advanced settlements.

Founded in 2015 by college friends Islam Shawky, Alain El Hajj, and Mostafa Menessy, Paymob started as a solution to Egypt’s growing eCommerce market, addressing the lack of suitable payment infrastructure for digital businesses.

Today, the company offers a comprehensive omnichannel payment gateway, enabling over 350,000 merchants to accept online and offline payments across five countries in the MENA region, including Egypt, Pakistan, Oman, Saudi Arabia, and the UAE.

Paymob has achieved notable success, becoming profitable in Egypt for the first time in the second quarter of 2024.

Revenue in Egypt has surged sixfold since mid-2022, driven by the company’s ability to cross-sell additional services to its expanding merchant base.

Despite its relatively recent entry into the UAE market, Paymob has already seen significant growth. Transaction volume in the Middle Eastern nation now matches that of its entire Egyptian business.

This rapid expansion can be attributed to the UAE’s higher purchasing power, stronger currency, and widespread adoption of digital payments.