Hala, a Saudi Arabia’s FinTech startup, acquires UAE’s payment startup Paymennt.com

Hala, a Saudi Arabia’s FinTech startup, acquires UAE’s payment startup Paymennt.com

Hala, a Saudi-Arabia based FinTech startup, acquired Paymennt.com, which they announced at the LEAP 2023 conference.

This acquisition will allow Hala to further enhance its product offerings by incorporating online payments, enabling its SME customers to increase their online presence and process offline and online omnichannel payments.

This marks Hala’s second acquisition, it previously acquired Fresh in 2021, now called Hala cashier, and currently enables it to integrate non-financial added value services to its SME customers.

“We are excited to welcome Paymennt’s team to our family to join us in executing our shared vision. The trigger was simple, we met smart entrepreneurs who share a similar vision and who are building a complementary product that clearly fits within our strategy. With more to come, this is our first endeavor outside our homeland and is the first block toward executing our global vision. We believe integrating the offering of Paymennt.com with that of Hala will provide a significant added value for our Saudi and UAE customers,” Maher Loubieh, Co-Founder of HALA, said.

Paymennt.com, previously called PointCheckout, was founded in 2017 by Bashar Saleh and Tarek Ghobar, as a payment service provider, regulated by the Abu Dhabi Global Market’s RegLab, and with offices across UAE and Jordan.

Hala was founded in 2017 to empower SMEs to start, run, and grow their businesses by providing them with financial and technological tools. It currently works in multiple markets including the UAE, Saudi Arabia, and Egypt.

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