Saudi fintech Hala raises $157m

Editorial

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The round was led by The Rise Fund, and Sanabil Investments, with participation from QED, Raed Ventures, Impact 46, Middle East Venture Partners, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.

Hala’s embedded offering for MSMEs covers business accounts, card issuance, payment and transfer services, POS solutions, financing and corporate cards. The company currently serves over 142,000 businesses and processes more than $8 billion of annual transactions.

The funds will be used to strengthen Hala’s position in the Saudi market and offer more embedded financial services, as well as to expand regionally.

Yemi Lalude, head of Emea, The Rise Funds, says: “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.”