Hala, a Saudi Arabian fintech that provides embedded financial services to micro, small and medium enterprises, has raised $157 million in a Series B funding round.
The Rise Fund and Sanabil Investments led the round, which also included QED, Raed Ventures, Impact 46, Middle East Venture Partners, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavour 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 serves over 142,000 businesses and processes over $8 billion of annual transactions.
The funds will strengthen Hala’s position in the Saudi market, allow it to offer more embedded financial services, and 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 through innovation but by creating jobs, expanding access, and delivering meaningful social impact.”