4 years ago

Hala Raises $6.5M to Expand Fintech Services in Saudi Arabia

  • Hala, a Saudi Arabian fintech company, has secured $6.5 million in Series A funding led by Impact 46 Growth Fund, Wamda, and strategic investors

  • Hala offers a complete payment and wallet solution for individuals and merchants, providing a POS device, Visa/Mada card, IBAN, and a simple app for managing transactions

  • The company aims to be the future bank for SMEs and is expanding its offering regionally.

      • ProblemFinancial Services

      "Small and medium-sized enterprises (SMEs) in Saudi Arabia often lack access to sophisticated and user-friendly banking and financial management tools."

      Solution

      "Hala provides a comprehensive platform that offers SMEs a suite of financial services, including POS devices, Visa/Mada cards, IBANs, and a mobile app. This allows them to manage transactions, track payments, and handle accounting and supplier management, effectively acting as their primary business banking solution."

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