HALA Holding, a leading fintech company based in Saudi Arabia, has announced the completion of a $157 million Series B funding round. This marks one of the most significant Series B investments in the region’s fintech sector. The round was led by The Rise Fund, part of TPG’s global impact investing strategy, and Sanabil Investments, which the Public Investment Fund of Saudi Arabia owns. A wide range of other investors also participated, including QED, Raed Ventures, Impact 46, MEVP, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.
The new capital will be used to strengthen HALA’s position in the Saudi market and expand its range of financial services. The company plans to introduce more embedded financial tools and lending products specifically designed to support micro, small, and medium-sized enterprises (MSMEs) and freelancers. It also aims to grow its presence across the broader Middle East region.
HALA’s growth over the past year has demonstrated the strength and scalability of its business model. The company is committed to sustainable development and plays a pivotal role in advancing Saudi Arabia’s Vision 2030, which aims to enhance the contribution of small and medium-sized enterprises to the national economy.
HALA provides a wide array of financial services tailored to business needs. These include business accounts, card issuance, payment and transfer capabilities, point-of-sale systems, financing options, and corporate cards. The company currently serves more than 140,000 businesses and processes over $8 billion in transactions annually.
KEY QUOTES:
“This landmark investment is a turning point for HALA, reflecting on our relentless pursuit of innovation and excellence in serving small businesses. We are honored that our new investors recognize the potential of our vision and the impact we aspire to make in the MSME landscape. Our journey is just beginning, and this support fuels our drive to create meaningful change.”
Esam Alnahdi Co-founder and Chairman, Hala
“We are honored by the continued trust and support of our existing investors – distinguished local and regional business leaders and funds – whose contributions have been instrumental to HALA’s journey so far. At the same time, we are proud to welcome all our new partners, including TPG’s Rise Fund and Sanabil, who, by joining our journey, gave a strong testimonial of the business that the team has built. As we look at the next phase of our growth, we believe that our diverse group of prominent investors bring valuable global expertise and perspective which will elevate our ambitions to execute with even greater scale and impact.”
Maher Loubieh, Co-founder and Group CEO, HALA
“HALA is uniquely positioned to empower micro and small businesses, a key pillar in the region’s economy, by delivering business owners and their customers a broad and growing set of payment solutions. We are excited to support the HALA team in building a clear leader in this underserved segment. 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.”
Yemi Lalude, Partner at TPG and Head of Europe, Middle East and Africa for The Rise Funds
“We are excited to lead this landmark Series B funding round for HALA. This investment underscores our belief in HALA’s potential to reshape the future of financial services for SMEs and aligns with Sanabil’s mission to support visionary companies with patient capital and strategic guidance. We look forward to partnering with HALA and the other investors in supporting their continued success and expansion.”
A spokesperson for Sanabil Investments
