// FEATURE // audi Arabia’ s FinTech

The round was co-led by The Rise Fund, TPG’ s multi-sector global impact investing strategy, and Sanabil Investments, a wholly owned company by Saudi Arabia’ s Public Investment Fund( PIF). They were joined by an impressive syndicate of regional and global backers including QED, Raed Ventures, Impact 46, MEVP, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures and Wamda Capital.

This vote of confidence signals not only HALA’ s growing stature in the FinTech landscape but also the immense untapped opportunity within the SME sector, a backbone of Saudi Arabia’ s economy and central to its Vision 2030 ambitions.

Why this matters for SMEs

MSMEs are more than just a segment of the Saudi economy – they are its foundation. According to recent data, SMEs represent 90 – 99 % of private sector businesses in the Kingdom, numbering anywhere between 614,000 to 1.8 million enterprises, depending on classification standards. These businesses contribute 20 – 35 % of GDP, translating into an economic weight of US $ 310 – 375 billion annually. They also employ an estimated 4.7 million workers particularly across retail, construction and manufacturing sectors.

Yet, despite this massive footprint, SMEs remain underserved in financial services. Traditional banks and lenders often consider them high-risk and low-margin, resulting in challenges such as:

• Limited access to credit for growth and working capital

• High transaction costs for payment and banking services

• Fragmented digital tools, forcing SMEs to rely on cash or manual processes

HALA was founded to close this gap. Its mission is straightforward yet transformative: to equip small businesses with the same calibre of financial tools that large corporates enjoy but tailored for their scale and needs.

HALA’ s rise: From start-up to SME powerhouse

Founded by Esam Alnahdi( Chairman) and Maher Loubieh( Group CEO), HALA has grown at a pace that mirrors the urgency of the problem it addresses. Today, the company serves more than 142,000 businesses and processes over US $ 8 billion in annual transactions, cementing its reputation as Saudi Arabia’ s MSME-focused FinTech leader.

HALA’ s suite of services is comprehensive. Its platform offers:

• Business accounts designed for SMEs, enabling them to separate personal and business finances

• Card issuance for staff and company expenses

• POS solutions that allow small shops, cafes and service providers to accept digital payments easily

• Payment and transfer services to simplify supplier and customer interactions

• Financing and corporate cards, giving SMEs critical access to liquidity

This embedded financial ecosystem is pitched as a gamechanger for merchants who previously had to stitch together fragmented solutions, often at high costs and with inefficiencies that hampered growth.

A perfect match with Vision 2030

HALA’ s timing is strategic. Saudi Arabia’ s Vision 2030 aims to diversify the economy and increase the SME sector’ s GDP contribution from 20 % to 35 % by the end of the decade. To reach this goal, the government has rolled out initiatives such as:

• The Monsha’ at Authority to support SME development

• The Kafalah programme providing

Intelligent SME. tech

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