Haball, a supply chain financing and payments fintech in Pakistan, has raised a US$52 million pre-Series A funding round, consisting of both equity investment and strategic financing.
The equity portion, valued at US$5 million, was led by Zayn VC, Pakistan’s prominent venture capital firm. Additional investors included Majlis Advisory SPV, several private investors from Saudi Arabia, angel investors, and a large business conglomerate.
The strategic financing component, amounting to US$47 million, was provided by Meezan Bank.
This funding round follows Haball’s deliberate approach to responsible fundraising since its establishment in 2017.
The company’s positive unit economics, strategic focus, and track record in leveraging impactful investments have attracted these investors.
The funds will be used to strengthen Haball’s position in Pakistan and support its expansion into the Gulf Cooperation Council (GCC) region, where there is growing demand for shariah-compliant digital financial services targeting SMEs.
In Pakistan, supply chain finance is still developing but is expected to be worth over US$9 billion, driven by a significant financing gap faced by SMEs – fewer than 5% of which have access to commercial bank financing.
Haball plans to enter the Saudi Arabian market in 2025 to serve SMEs and explore growth opportunities in the country.
The company is also considering expansions into other GCC markets, including the UAE and Qatar, as well as other parts of Asia.
Omer bin Ahsan, Founder and CEO of Haball, noted:
“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, which is crucial for the success of SMEs across Pakistan.”
He added,
“We also look forward to addressing the demand in the GCC for shariah-compliant and SME-focused digital financial services, beginning with our market entry into Saudi Arabia this year. Further international expansion across the Middle East and Asia remains a long-term goal.”
Haball offers shariah-compliant financing to both SMEs and multinational companies, streamlining transactions through an end-to-end solution that includes payment collection, digital invoicing, tax compliance, and financing.
The company’s services improve cash flow visibility, enhance tax reporting, and streamline digital payments, contributing to economic growth and financial inclusion in Pakistan.
Syed Tanveer Hussain, Group Executive Corporate, Commercial & Investment Banking at Meezan Bank, commented:
“Our collaboration with Haball reflects a shared vision to strengthen Pakistan’s financial infrastructure, unlocking opportunities for SMEs and enhancing the resilience of supply chains, contributing to the country’s broader economic development.”
Featured image credit: Haball
