HALA Raises $157M in One of MENA’s Largest Fintech Series B Rounds
The Saudi fintech will use the landmark new funding to strengthen its SME and freelancer financial services, as well as to expand its lending products.
HALA, a Saudi fintech company, has raised $157 million in a Series B round, marking one of the largest such financings for a fintech in the Middle East. The round was co-led by The Rise Fund and Sanabil Investments, with participation from QED, Raed Ventures, Impact 46, MEVP, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.
Founded in 2018 by Esam Alnahdi and Maher Loubieh, HALA provides banking and financial services tailored to small and medium-sized enterprises (SMEs) and freelancers. The company’s offerings include business accounts, card issuance, payment and transfer services, POS solutions, financing, and corporate cards. HALA currently serves more than 142,000 businesses and processes over $8 billion in annual transactions.
The newly raised capital will reinforce HALA’s position in the Saudi market, support the rollout of lending and embedded finance products, and drive regional expansion. The company joined the Saudi Unicorns Programme in October 2023, underscoring its role as a rising force in the Kingdom’s financial sector.
