HALA has successfully raised $157 million in a Series B funding round, led by TPG’s Rise Fund and Sanabil Investments, to expand its embedded financial services for MSMEs in Saudi Arabia.

Target Company Overview

HALA is a leading fintech company based in Saudi Arabia, specializing in providing embedded financial services tailored for micro, small, and medium enterprises (MSMEs). The company has secured $157 million in its Series B funding round, making it one of the largest fintech investment rounds in the Middle East. This significant capital infusion will bolster HALA's presence in the Saudi market, enhancing their offerings in financial services and lending products aimed at supporting the growth of MSMEs and freelancers.

Serving over 142,000 businesses, HALA has processed more than $8 billion in annual transactions. Its extensive suite of embedded financial services includes business accounts, card issuance, payment processing, transfer services, payment solutions, financing options, and corporate credit cards. HALA's growth trajectory supports its mission to play an instrumental role in achieving targets outlined in Saudi Vision 2030, aiming to elevate the contributions of SMEs to the Kingdom's GDP.

Industry Overview

The SME sector in Saudi Arabia is crucial to the nation's economy, comprising approximately 614,000 to 1.8 million enterprises, which represent around 90-99% of all private sector businesses. These small and medium-sized businesses significa