Hala, a Saudi Arabian fintech specializing in embedded financial services for micro, small, and medium enterprises (MSMEs), has successfully raised $157 million in a Series B funding round.
The funding round was led by The Rise Fund and Sanabil Investments, with additional participation from QED, Raed Ventures, Impact 46, Middle East Venture Partners, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.
Hala’s offerings for MSMEs include business accounts, card issuance, payment and transfer services, POS solutions, financing options, and corporate cards. Currently, Hala serves over 142,000 businesses and processes more than $8 billion in annual transactions.
The newly raised capital will be utilized to strengthen Hala’s presence in the Saudi market, expand its range of embedded financial services, and facilitate regional growth.
Yemi Lalude, head of EMEA at The Rise Fund, stated: “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.”