Haball, a Pakistan-based fintech specializing in supply chain finance and payment solutions, has successfully closed a pre-Series A funding round of $52 million.
The round was led by Zain Venture Capital, which contributed $5 million in equity, while Meezan Bank – Pakistan’s largest Islamic bank with an AAA/A-1+ rating – provided strategic funding of $47 million.
The new investment will consolidate Haball’s leadership in the Pakistani market and facilitate its targeted expansion into the GCC, with plans to launch in Saudi Arabia in 2025. This move aligns with Haball’s strategy to address the significant financing gap for SMEs in Pakistan, where fewer than 5% of companies currently secure funding from commercial banks.
Projections suggest that the supply chain finance sector in Pakistan could exceed $9 billion due to the growing demand for financial services.
Founded in 2017, Haball has established an impressive track record, processing payments over $3 billion and providing more than $110 million in financing to nearly 8,000 SMEs across various sectors, as well as multinational corporations such as Coca-Cola.
Haball was also the first fintech in Pakistan to obtain a license from the Federal Board of Revenue for issuing digital invoices. Additionally, the Pakistan Central Bank has selected Haball as the preferred platform for multi-bank supply chain finance, and the company is on track to become a regulated payment initiation service provider with access to Raast—the country’s first instant payment system.
Omer bin Ahsan, CEO of Haball, remarked that a robust digital transformation of financial systems is essential to overcoming critical gaps in commercial payments and supply chain finance in Pakistan, ultimately driving economic growth and financial inclusion for SMEs.
Said Tanveer Hussain, Group CEO for Corporate and Investment Banking at Meezan Bank, commented, “Our partnership with Haball represents a shared vision to enhance Pakistan’s financial infrastructure, unlocking significant growth opportunities for SMEs while bolstering supply chain resilience.”
Faisal Aftab, Co-founder and Managing Partner at Zain Venture Capital, added, “Our investment in Haball is in line with our commitment to support innovative financial solutions with global impact. With the rising focus in the GCC on strengthening supply chain systems, we see promising opportunities for Haball to expand its proven model and address critical financing needs.”
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