HALA Secures $157M Series B in Saudi Arabia

HALA, a Saudi Arabia-based fintech focused on embedded financial services for micro, small, and medium enterprises (MSMEs), has raised $157 million in a Series B funding round, marking one of the largest fintech fundraises in the Middle East. The round was co-led by The Rise Fund (TPG) and Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), with participation from multiple regional and global investors. This capital injection will enable HALA to deepen its market leadership in Saudi Arabia, expand its portfolio of embedded financial and lending solutions tailored to MSMEs and freelancers, and support regional expansion in line with Saudi Vision 2030's goals to diversify the economy and increase SME contributions to GDP. Serving over 142,000 businesses and processing more than $8 billion in annual transactions, HALA offers a suite of financial products including business accounts, payments, point-of-sale systems, corporate cards, and financing. The SME sector is vital to Saudi Arabia’s economy, contributing up to 35% of GDP and employing millions, yet many small businesses struggle to access financing, a gap HALA aims to fill by leveraging technology and data-driven lending decisions. HALA’s success highlights the growing role of fintech in supporting SME growth and economic diversification in the Kingdom.