- Haball raises USD 52M in pre-Series A funding led by Zayn VC and Meezan Bank to boost supply chain finance solutions.
- The startup offers shariah-compliant services for SMEs and multinationals, combining digital invoicing, tax compliance, and financing into one streamlined platform.
- It aims to expand to the GCC, starting with Saudi Arabia in 2025, aiming to meet regional demand for Islamic, SME-focused digital financial services.
Haball
What happened? Haball raised USD 52 million in a pre-Series A funding round. The round was led by Zayn VC who provided the rounds’s equity component valuing at USD 5 million. Additionally, the round included participation from Majlis Advisory SPV, several private investors in KSA, angel investors, and a business conglomerate. The round also included a strategic financing component valued at USD 47 million provided by Meezan Bank Limited.
“Our investment in Haball aligns with our vision to support innovative financial solutions that have a global impact. With the GCC region’s increasing focus on strengthening supply chain ecosystems, we see tremendous potential for Haball to expand its proven model and address critical financing needs.”
Faisal Aftab, Founder and Managing Partner at Zayn VC
Who are they? Haball is a Pakistani supply chain financing and payments fintech that provides shariah compliant financing to SMEs and multinationals. Moreover, it streamlines transactions for businesses via an end-to-end solution incorporating payment collection, digital invoicing, tax compliance, and financing. The company’s’ shariah-compliant financial services aims to improve cash flow visibility, tax reporting processes, and streamline digital payments.
What will they do with the funds? With the newly acquired capital, the startup aims to consolidate its market leadership in Pakistan. Additionally, it aims to expand into the GCC seeking to meet the demand for shariah-compliant SME-focused digital financial services.
Expansion
Expansion into KSA Haball plans to enter Saudi in 2025 aiming to service SMEs and foster growth opportunities for Saudi companies. Furthermore, the company intends to open a regional office in the kingdom with plans to assess market entries across the Middle East.
“We also look forward to responding to the significant demand in the GCC for shariah-compliant and SME-focused digital financial services, beginning with our market entry to KSA this year.” said Omer bin Ahsan, Founder and CEO of Haball.
Why does this matter? The supply chain finance sector is still burgeoning in Pakistan, but it is expected to be worth over USD 9 billion. This is driven by the financing gap faced by the country’s SMEs as less than 5% can access financing from commercial banks.
“Pakistan’s supply chain has been ripe for an efficient, transparent solution to overcome major gaps in the country’s business payments and supply chain financing eco-system. Widespread digitization of financial systems – as offered by Haball – will drive economic growth and financial inclusion; imperative for SMEs’ success across Pakistan.”
Omer bin Ahsan, Founder and CEO of Haball
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