Pakistan’s Haball bags $52m for Shariah SME push, GCC expansion

By Puja Sharma

Haball, a Pakistan-based supply chain financing and payments FinTech, has raised a $52 million pre-Series A funding round comprising equity investment and a strategic financing allocation.

The proceeds will support Haball in consolidating its market leadership in Pakistan and driving a targeted expansion into the GCC, responding to the clear market demand for shariah-compliant SME-focused digital financial services.

The round’s equity component of  $5 million was led by Zayn VC, Pakistan’s venture capital firm. Other investors included Majlis Advisory SPV, several leading private investors in KSA, angel investors, and a prominent business conglomerate. Meezan Bank provided the strategic financing component ($47 million).

Haball will enter the KSA market in 2025 – to service SMEs and unlock millions in growth opportunities for KSA 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, 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 ecosystem. Widespread digitisation 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 KSA 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.

Syed Tanveer Hussain, Group Executive of 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.”