Saudi Fintech HALA Lands $157M in Mega Series B Round

Backed by TPG’s Rise Fund and Sanabil, HALA’s record-breaking round highlights the growing role of fintech in powering Saudi Arabia’s Vision 2030.

HALA, a Saudi Arabian fintech startup, has secured $157 million in Series B funding, ranking among the largest fintech investments in the Middle East. Headquartered in Riyadh, the company specializes in delivering embedded financial solutions tailored for micro, small, and medium-sized enterprises (MSMEs), a market often overlooked by conventional banks.

The round was jointly led by Sanabil Investments and TPG’s Rise Fund, with additional participation from investors such as Wamda Capital, MEVP, Impact46, Raed Ventures, and QED Investors. According to HALA, the new capital will be directed toward broadening its financial offerings, rolling out lending solutions tailored for MSMEs and freelancers, and driving its regional expansion plans.

The Saudi Context: Why HALA Matters

HALA’s raise comes at a time when Saudi Vision 2030 has placed SMEs at the center of economic diversification. Small and medium businesses make up nearly 90–99% of private sector enterprises, employ 4.7 million people, and contribute around 20–35% of GDP. Yet, many still face barriers to accessing finance and modern banking tools.

By building digital-first, accessible financial solutions, HALA positions itself as more than just a payments company—it becomes an enabler of growth for businesses that form the backbone of the Saudi economy.

HALA’s Rapid Growth

The company’s growth trajectory has validated investor interest. HALA currently serves over 142,000 businesses, processing more than $8 billion in annual transactions. Its offering spans business accounts, card issuance, payments and transfers, POS systems, financing, and corporate cards—services that were previously difficult for smaller enterprises to access.

This comprehensive product suite not only drives adoption but also builds stickiness, making HALA an essential financial partner for micro and small businesses.

Investor Confidence

The participation of global names such as Sanabil Investments and TPG’s Rise Fund has shown a growing recognition of the market’s potential. TPG Partner Yemi Lalude noted that HALA is “uniquely positioned to empower micro and small businesses,” calling them a key driver of the region’s economy. Sanabil, meanwhile, emphasized its belief in HALA’s ability to “reshape the future of financial services for SMEs,” aligning with its mission to back visionary companies with long-term support.

This mix of impact-driven international funds and seasoned regional investors provides HALA with both credibility and expertise as it scales.

Regional Expansion and Market Opportunity

While HALA is rooted in Saudi Arabia, the potential extends far beyond. Across the Middle East and North Africa, SMEs account for the majority of businesses yet consistently face financing gaps. HALA’s model—embedding financial tools directly into business workflows—offers a scalable way to address these gaps in neighboring markets.

If executed well, HALA could evolve from a Saudi fintech champion into a regional market leader, shaping how MSMEs access capital and financial infrastructure across MENA.

Challenges Ahead

Still, HALA’s growth path won’t be without challenges. Competition in the SME fintech space is intensifying, with banks and other startups targeting the same segment. Regulatory changes will continue to shape how quickly fintechs can innovate, while lending at scale requires careful risk management to avoid defaults.

How HALA balances rapid expansion with responsible growth will be critical in determining whether it can sustain its momentum.

Conclusion

HALA’s $157 million Series B is a milestone not only for the company but also for the Saudi fintech sector. It signals strong investor confidence, rising demand for SME-focused financial solutions, and the Kingdom’s growing role as a regional innovation hub.

As HALA doubles down on expansion, the real question is whether it can translate this capital into lasting impact—helping micro and small businesses thrive while cementing its position as one of the Middle East’s defining fintech players.