• HALA raised USD 157M in a Series B led by TPG’s The Rise Fund and PIF’s Sanabil Investments.
• The Saudi fintech plans to expand embedded financial services, lending products, and regional reach to support SMEs and freelancers.
• The move aligns with Vision 2030 goals to boost SME contributions to GDP and drive digital financial inclusion.

HALA

Saudi-based fintech, HALA, raised USD 157 million in a Series B funding round. The round is led by TPG’s The Rise Fund and PIF’s Sanabil Investments. It also saw participation from QED, Raed Ventures, Impact46, Middle East Venture Partners (MEVP), Isometry Capital, and Arzan VC. Additionally, it saw participation from BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital. 

“Our investment underscores our belief in the growth potential of this market, the rising demand for robust digital banking solutions, and the critical role entrepreneurs play in shaping the next generation economy, not just though innovation but by creating jobs, expanding access, and delivering meaningful social impact,” said Yemi Lalude, Partner at TPG and Head of Europe, Middle East and Africa for The Rise Funds.

MSMEs

Up next with the new funds, it aims to strengthen its position in the Saudi market. It also aims to offer more embedded financial services and lending products aiming to support the growth of MSMES and freelancers. Additionally, it aims to expand its presence regionally. This is in support of Saudi’s  Vision 2030 goal to significantly enhance the contribution of SMEs to GDP.

Co-founded by Esam Alnahdi (Chairman) and Maher Loubieh (CEO), Hala is a Saudi fintech company focusing on providing MSMEs with innovative financial services. It offers comprehensive embedded financial services ranging from business accounts, card issuance, payment and transfer services, and POS solutions to financing and corporate cards. Furthermore, it  currently serves over 142 thousand businesses and processes more than USD 8 billion of annual transactions.