Hala
One app for small businesses: a payment device, a business account, a card and financing
Hala (formerly Halalah) is a Saudi fintech in Riyadh. It launched in Saudi Arabia in 2018 and serves small businesses. It raised $157 million in a Series B round in 2025 at a valuation of about $900 million, according to reports.
What does Hala do?
The company started as Halalah, a digital wallet for individuals, after being licensed in the fintech lab of Abu Dhabi Global Market in 2017, and it launched in Saudi Arabia in November 2018. In 2020 it shifted to serving small businesses and changed its name to Hala, combining the payment device, business account and card in one app. The company says it reached operating breakeven in early 2025 and is targeting a listing on the Saudi market in 2027.
Products
An app for small businesses and the self-employed that combines a business account, a card, payment acceptance, POS devices, transfers and payroll
A cloud POS system with inventory management and accounting, which came after the acquisition of FRESH POS in 2021
Key features
- A payment device and payment acceptance through the phone
- A business account and cards for businesses
- Financing for small businesses, launched in 2025
- Services for certified self-employed workers
- Licensed by the Saudi Central Bank (SAMA)
- Sanabil Investments, wholly owned by the Public Investment Fund, took part in leading the Series B round, and its stake is undisclosed
- The valuation of about $900 million is a figure attributed to a source familiar with the matter and has not been confirmed by the company, and Hala is not a unicorn
- It received its first license in the fintech lab of Abu Dhabi Global Market in 2017, before launching in Saudi Arabia in 2018
The documentary
It started as a wallet named after the smallest coin in the riyal, and 7 years later its valuation is near $900 million.
Follow the channel so you don’t miss itFunding rounds
| Round | Date | Amount | Lead | Investors | Source |
|---|---|---|---|---|---|
| Series BValued at $900M | September 2025 | $130M | The Rise Funds (TPG), Sanabil Investments | The Rise Funds (TPG), Sanabil Investments, QED, Raed Ventures, Impact46, MEVP, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, Wamda Capital | Source |
| Series B (debt) (Debt financing) | September 2025 | $27M | — | Source | |
| Pre-Series B | January 2022 | $25M | Raed Ventures, Impact46, MEVP | Raed Ventures, Impact46, MEVP | Source |
| Series A | March 2021 | $6.5M | Impact46 | Impact46, Wamda Capital | Source |
Key investors
Founders
Common questions about Hala
What was Hala's former name?
It was called Halalah, after the smallest denomination of the riyal, and it changed the name to Hala in June 2020.
Who founded Hala?
It was founded by Esam Alnahdi and Maher Loubieh.
How much did Hala raise in its Series B round?
$157 million in September 2025, of which $130 million was equity and $27 million was debt, led by TPG's The Rise Funds and Sanabil Investments.
Is Hala planning an IPO?
The company says it is targeting a listing on the Saudi market in 2027, and no listing application had been found as of October 2026.