Saudi Arabia-based fintech HALA has raised $157 million in a Series B round co-led by The Rise Fund (TPG) and Sanabil Investments, with participation from QED, Raed Ventures, Impact 46, MEVP, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.
Founded in 2018 by Esam Alnahdi and Maher Loubieh, HALA provides SME banking and freelancer solutions designed to simplify how small businesses start, run, and grow. Its offering spans business accounts, payments, POS systems, corporate cards, and lending products, all embedded into a unified digital platform.
The startup now serves over 142,000 MSMEs and processes more than $8 billion in annual transactions, making it one of the largest players in Saudi Arabia’s fast-expanding fintech ecosystem.
Alnahdi, co-founder and chairman, called the raise “a turning point for HALA,” adding:
“This support fuels our drive to create meaningful change for small businesses and reflects the potential of our vision.”
Loubieh, group CEO, said the backing of global investors like TPG alongside Saudi’s Sanabil validated HALA’s model and positioned the company for greater regional impact.
The capital will be used to deepen HALA’s market leadership in Saudi Arabia, roll out new lending and embedded finance products, and expand regionally. The company is targeting the MSME sector, which contributes an estimated 20–35% of Saudi GDP and is a core focus of Vision 2030 diversification goals.
