Haball Raises $52M for Regional Expansion

Haball, a leading fintech in Pakistan focused on supply chain finance, has raised US$52 million in a pre-Series A round. The equity portion of US$5 million was led by Zayn VC, with participation from Majlis Advisory and private investors in Saudi Arabia. The strategic financing of US$47 million was provided by Meezan Bank Limited, the country’s largest Islamic bank.

Founded in 2017, Haball provides shariah-compliant digital financial services to SMEs and multinationals. Their platform includes digital invoicing, payment collection, tax compliance, and financing. The company has processed over US$3 billion in payments and disbursed more than US$110 million in financing to around 8,000 SMEs across Pakistan. Clients include major multinationals such as The Coca-Cola Company.

The new funds will help Haball expand into the GCC region, starting with Saudi Arabia in 2025. The company plans to open a regional office there and is also exploring entry into the UAE, Qatar, and Asia.

Haball is already licensed by Federal Board of Revenue (FBR) for digital invoicing and recognized by State Bank of Pakistan (SBP) as a multi-bank supply chain financing platform. It is also working towards becoming a regulated payment initiation service provider through Raast.