Saudi Fintech Hala Raises $157M at $900M Valuation

Riyadh-based fintech startup Hala has completed a Series B funding round worth 157 million USD, lifting its valuation to approximately 900 million USD and ranking among the largest early-stage startup deals in the Middle East. The round closed in September 2025, with part of the amount reported to include debt financing.

The round was led by TPG's impact platform, The Rise Fund, and Sanabil Investments, an investment arm wholly owned by Saudi Arabia's Public Investment Fund. The wider investor syndicate included QED Investors, Raed Ventures, Impact46, Middle East Venture Partners, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.

Hala describes itself as a next-generation financial platform, or "bank for SMEs," enabling small businesses to manage payments and other financial operations through digital services. Its platform is reported to serve more than 140,000 small businesses across Saudi Arabia, positioning the company among the country's major fintech providers.

The company said the new funding will strengthen its position in the Saudi market as a provider of embedded financial services for micro, small, and medium enterprises. It also plans to expand lending products tailored to MSMEs, micro-businesses, and freelancers, while supporting regional growth beyond Saudi Arabia.

Why it matters

The deal marks one of the largest fintech Series B rounds in the region and highlights the rapid scale-up of Saudi financial technology. Formerly branded Halalah, the company closed a Series A round of 6.5 million USD (about 24.3 million SAR) in 2021, underscoring its fast growth to a valuation near 900 million USD by 2026. For the Kingdom's small business owners and freelancers, the expansion promises broader access to digital payments and financing tools.

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