Haball Raises $52 Million for GCC Expansion, SME Financing

Haball, a Pakistan-based fintech firm, has successfully raised $52 million in a pre-Series A funding round, which includes $5 million in equity and $47 million in strategic financing. The equity investment was led by Zayn VC, while Meezan Bank, the largest Islamic bank in Pakistan, provided the strategic financing component. This funding will support Haball's expansion plans within Pakistan and its entry into the GCC markets, starting with Saudi Arabia, where it aims to offer shariah-compliant financial services for SMEs. The platform has already made significant inroads in digitizing Pakistan's B2B landscape, processing over $3 billion in payments and serving nearly 8,000 SMEs. Haball's founder, Omer bin Ahsan, emphasizes the need for efficient solutions in the country's supply chain finance sector, which is currently underdeveloped. The company aims to become a vital financial conduit, transforming how businesses conduct transactions in a predominantly analog environment.