HALA secures USD 157 million in one of the largest Series Bs in the Middle East
HALA secures USD 157 million in one of the largest Series B financings in the Middle East
Saudi Arabian fintech HALA, a provider of embedded financial services for micro, small and medium-sized enterprises (MSMEs), has closed a USD 157 million Series B funding round. It is one of the largest Series B fintech rounds in the region.
This investment marks a turning point for HALA. It confirms our commitment to driving innovation and sustainable growth for small businesses in the region.
Esam Alnahdi, Co-Founder & Chairman, HALA
Strong investor round
The round was led by The Rise Fund (TPG) and Sanabil Investments, a subsidiary of the Public Investment Fund (PIF). Other investors include QED, Raed Ventures, Impact 46, MEVP, Endeavor Catalyst, Khwarizmi Ventures and Wamda Capital. Notably, this is The Rise Fund's first investment in the Middle East. A signal of international confidence in HALA's business model and the growth opportunities in the market.
We see HALA as an opportunity to redefine finance for SMEs in the Middle East. This investment fits perfectly with our mission to support visionary companies over the long term.
Sanabil Investments
Growth and market potential
HALA has quickly become the market leader in fintech for SMEs in Saudi Arabia. The company already serves over 142,000 companies and processes transactions worth over USD 8 billion annually. The market offers enormous potential: with around 600,000 to 1.8 million SMEs, they account for 90-99% of all private companies in the Kingdom and contribute up to 35% of GDP. The government is strongly promoting the segment as part of Vision 2030, which aims to further increase the share of SMEs in economic output.
HALA is uniquely positioned to empower SMEs with innovative financial solutions - a key segment of the regional economy.
Yemi Lalude, TPG / The Rise Funds
Expansion of the offering
With the fresh capital, HALA:
- consolidate its position in the domestic market,
- developnew credit and financing products for SMEs and freelancers,
- and expand regionally.
The service portfolio already includes business accounts, cards, payment and transfer solutions, POS terminals and corporate cards.
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