Saudi Fintech Hala Raises 157 Million Dollars to Become the Square of the Gulf

Saudi Arabian fintech Hala has raised $157 million in a funding round that values the company as the leading payments platform in the Gulf region. The company has been described as the Square of the Gulf, building point-of-sale and merchant payment solutions tailored to the Middle Eastern market.

The substantial raise reflects growing investor confidence in the Gulf's fintech ecosystem, which has seen rapid growth driven by government-backed digital transformation initiatives and increasing consumer adoption of digital payments.

Hala's focus on merchant payments positions it at the centre of a fundamental shift in how businesses across the Gulf Cooperation Council states accept and process payments, as the region moves rapidly away from cash-dominated transactions.