Riyadh - Sharikat Mubasher: Haball, a leading Pakistani supply chain financing and payments fintech, raised a $52 million pre-series A round comprising equity investment and a strategic financing allocation to expand into Saudi Arabia and the GCC region.
Majlis Advisory SPV, several leading private investors in Saudi Arabia, angel investors, and a prominent business conglomerate participated in the round, the company announced in a press release today.
The round’s equity component of $5 million was led by Zayn VC, Pakistan’s premier venture capital firm, while the strategic financing component of $47 million was provided by Meezan Bank Limited, Pakistan’s first and largest Islamic bank.
This investment will help Haball consolidate its market leadership in Pakistan, meeting the market demand for shariah-compliant SME-focused digital financial services.
With plans to open a regional office in Saudi Arabia, Haball will enter the Saudi market this year to service SMEs and unlock millions in growth opportunities for Saudi companies.
The company is also exploring additional market entries across the Middle East, such as the UAE, Qatar, and Asia.
Omer bin Ahsan, Founder and CEO of Haball, stated that widespread digitization of financial systems, offered by Haball, will drive economic growth and financial inclusion, which is imperative for SMEs’ success across Pakistan.
“We also look forward to responding to the significant demand in the GCC for shariah-compliant and SME-focused digital financial services, beginning with our market entry to KSA this year. Further international expansion into markets across the Middle East and Asia – meeting the needs for Islamic finance – also remains a long-term ambition,” bin Ahsan added.
For his part, Syed Tanveer Hussain, Group Executive Corporate for Commercial and Investment Banking at Meezan Bank, said: “Our collaboration with Haball represents a shared vision to strengthen Pakistan’s financial infrastructure, unlocking opportunities for SMEs and enhancing the resilience of supply chains, contributing to the broader economic development of the country.”
Faisal Aftab, Founder and Managing Partner at Zayn VC, stated: “Our investment in Haball aligns with our vision to support innovative financial solutions that have a global impact. With the GCC region's increasing focus on strengthening supply chain ecosystems, we see tremendous potential for Haball to expand its proven model and address critical financing needs.”
Haball provides shariah-compliant financing to SMEs and multinationals, streamlining transactions for businesses via an end-to-end solution and incorporating payment collection, digital invoicing, tax compliance, and financing.
