HALA Raises $157M in Landmark Series B Round Led by TPG and Sanabil
Riyadh – September 15, 2025
HALA, Saudi Arabia’s leading fintech platform providing embedded financial services to micro, small, and medium enterprises (MSMEs), has raised $157 million in a landmark Series B funding round — one of the largest fintech Series B rounds in the Middle East.
The investment was led by The Rise Fund, TPG’s multi-sector global impact investing strategy, and Sanabil Investments, a wholly owned company of Saudi Arabia’s Public Investment Fund (PIF). The round also saw participation from leading global and regional investors 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 funding will enable HALA to strengthen its leadership in the Saudi market, launch new ventures such as lending products, expand its embedded financial services portfolio, and extend its footprint beyond the Kingdom.
HALA has scaled rapidly, now serving over 142,000 businesses and processing more than $8 billion in annual transactions. The company’s suite of services includes business accounts, card issuance, payment and transfer solutions, POS systems, financing, and corporate cards.
The investment marks The Rise Fund’s first-ever entry into Saudi Arabia and the Middle East, underscoring confidence in HALA’s business model, favorable market demographics, and the significant opportunity to drive large-scale social impact.
The SME sector in Saudi Arabia represents a vast opportunity: with between 614,000 and 1.8 million SMEs, accounting for 90–99% of private sector businesses and contributing around 20–35% of GDP (approximately $310–375 billion), and employing 4.7 million people. Driven by Vision 2030 initiatives, digital transformation, and government support, the sector has seen a 45% growth in GDP contribution from 2016 to 2021.
Esam Alnahdi, Co-founder and Chairman of HALA, said:
“This landmark investment is a turning point for HALA. It reflects our relentless pursuit of innovation and excellence in serving small businesses, and we are honored that our investors recognize the potential of our vision and impact.”
Maher Loubieh, Co-founder and Group CEO of HALA, added:
“We are proud to welcome The Rise Fund and Sanabil, alongside our trusted existing investors. Their global expertise and support will help us accelerate our next phase of growth, executing with greater scale and impact.”
Yemi Lalude, Partner at TPG and Head of EMEA for The Rise Fund, said:
“HALA is uniquely positioned to empower small businesses by delivering a broad and growing set of payment solutions. This investment reflects our belief in the market’s potential and the vital role entrepreneurs play in shaping the next-generation economy.”
A Sanabil Investments spokesperson commented:
“We are excited to co-lead this landmark round. HALA has the potential to reshape financial services for SMEs, and this aligns with Sanabil’s mission to support visionary companies with long-term capital and strategic guidance.”
