Saudi Arabia's HALA Raises $157 Million Series B Led by TPG Rise Fund and Sanabil

Saudi Arabian embedded finance company HALA has raised $157 million in a Series B funding round led by The Rise Fund, TPG's global impact investing strategy, and Sanabil Investments, an investment company wholly owned by Saudi Arabia's Public Investment Fund (PIF). The round was disclosed in September 2025.

The proceeds from the round will be used to strengthen HALA's market position in Saudi Arabia and to expand the suite of embedded financial services it provides to MSME operators.

HALA'S BUSINESS AND USE OF FUNDS

HALA provides business accounts, card issuance, payments and transfers, and point-of-sale solutions to more than 142,000 businesses, processing about $8 billion in annual transactions, and plans to use the new funds to develop lending products for MSMEs and freelancers.

HALA said the proceeds will also support its regional expansion.