HALA Secures $157 Million Investment
Saudi Arabia’s leading fintech company, HALA Holding, has raised $157 million in a Series B funding round. The deal is recorded as one of the largest fintech Series B rounds in the Middle East.
The fintech company HALA, which provides embedded financial services to SMEs, raised $157 million in one of the region’s biggest Series B rounds. The funding was led by The Rise Fund, TPG’s multi-sector global impact investing strategy, and Sanabil Investments, a Public Investment Fund (PIF) company. This marks The Rise Funds’ first investment in Saudi Arabia and the wider Middle East. The round represents one of the largest fintech Series B financings in the region.
Other participants included QED, Raed Ventures, Impact 46, Middle East Venture Partners (MEVP), Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.
Strengthening HALA’s Position in Saudi Arabia
The funds will be used to strengthen HALA’s position in the Saudi market, expand embedded financial services and lending products designed to support SMEs and freelancers, and drive the company’s regional expansion. The investment highlights the strength of company business model, favorable demographics, and potential to create large-scale social impact. The fundraising follows HA LA’s impressive year-on-year growth, validating the robustness and scalability of its operating model. The model is designed for sustainable growth while also supporting Saudi Vision 2030’s goal of significantly increasing SMEs’ contribution to GDP.
“A Turning Point for HALA”
Esam Alnahdi, Co-founder and Chairman of HALA, said: “This landmark investment is a turning point for HALA, reflecting our relentless pursuit of innovation and excellence in serving small businesses. We are honored that our new investors recognize the potential of our vision and the impact we aim to make in the SME ecosystem. Our journey is just beginning, and this support fuels our drive to create meaningful change.”
About HALA
HALA Payments was founded by Esam Alnahdi (Chairman) and Maher Loubieh (CEO). Based in Saudi Arabia, it is a leading fintech company focused on empowering SMEs with innovative financial services. HA LA offers a comprehensive suite of embedded financial solutions, including business accounts, card issuance, payment and transfer services, POS solutions, financing, and corporate cards. The company currently serves more than 140,000 businesses and processes over $8 billion in annual transactions.