Latest news with #MajlisAdvisorySPV
Zawya
09-04-2025
- Business
- Zawya
Pakistan fintech Haball secures $52mln to fund entry into GCC
Pakistan start-up Haball, a provider of Shariah-compliant financing to SMEs and multinationals, has secured $52 million in funding to support its expansion into the GCC region. The supply chain financing and payments fintech, which is set to enter Saudi Arabia this year and is looking at other markets like the UAE and Qatar, raised the capital in a pre-Series A round comprising equity investment and bank financing. The $5 million equity component was led by Zayn VC, a venture capital firm in Pakistan, with participation from private investors in Saudi Arabia, Majlis Advisory SPV, angel investors and a business conglomerate. The financing component, valued at $47 million, was provided by Pakistan's Islamic lender Meezan Bank Limited. 'The proceeds will support Haball in consolidating its market leadership in Pakistan and drive a targeted expansion into the GCC,' the company said. The company is scheduled to open a regional office in Saudi Arabia in 2025. It is also exploring other markets in the Middle East, as well as Asia. (Writing by Cleofe Maceda; editing by Seban Scaria )
Khaleej Times
08-04-2025
- Business
- Khaleej Times
Leading Pakistan fintech secures $52 million pre-series funding
Haball, Pakistan's leading supply chain financing and payments fintech, raises a $52 million pre-Series A funding round comprising equity investment and a strategic financing allocation. The round's equity component of $5 million was led by Zayn VC - Pakistan's premier venture capital firm. Other investors included Majlis Advisory SPV; several leading private investors in KSA; angel investors, and a prominent business conglomerate. The strategic financing component ($47 million) was provided by Meezan Bank Limited, Pakistan's first and largest Islamic bank, rated AAA/A-1+. The announcement follows a deliberate strategy of responsible fundraising by the company since its 2017 inception. The proceeds will support Haball in consolidating its market leadership in Pakistan and drive a targeted expansion into the GCC – responding to the clear market demand for Shariah-compliant SME-focused digital financial services. Supply chain finance in Pakistan is nascent but is expected to be worth over $9 billion; driven by the severe financing gap faced by the country's SMEs – less than 5 per cent can access financing from commercial banks. Haball will enter the Saudi market in 2025 - to service SMEs and unlock millions in growth opportunities for the kingdom's companies. A regional office will also be opened in the Kingdom. The Company is also exploring additional market entries across the Middle East; such as in the UAE and Qatar; and Asia. Omer bin Ahsan, Founder and CEO of Haball, commented: 'Pakistan's supply chain has been ripe for an efficient, transparent solution to overcome major gaps in the country's business payments and supply chain financing eco-system. Widespread digitization of financial systems – as offered by Haball – will drive economic growth and financial inclusion; 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 Saudi Arabia 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.' Haball provides Shariah-compliant financing to SMEs and multinationals, streamlining transactions for businesses via an end-to-end solution incorporating payment collection, digital invoicing, tax compliance, and financing. Already a market leader for supply chain focused financial services in Pakistan; Haball has processed over $3 billion in payments and disbursed over $110 million in financing – optimizing supply chains across the country. Customers include nearly 8,000 SMEs across Pakistan, across verticals, and multinationals such as Coca-Cola. Haball has worked closely with regulators, becoming the first Pakistan fintech to receive a license from the Federal Board of Revenue for digital invoicing. It was also selected by the State Bank as a multi-bank supply chain financing platform, and is on track to become a regulated payment initiation service provider with access to Raast - Pakistan's first instant payment system. Syed Tanveer Hussain, Group Executive Corporate, Commercial & 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, said: '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.'
