Pakistan-based fintech startup Haball has secured US$52 million in a pre-Series A funding round, a blend of equity and strategic financing, marking a key milestone in its journey to transform supply chain finance and business payments in the region.
The US$5 million equity investment was led by Zayn VC, a top venture capital firm in Pakistan. Other contributors included Majlis Advisory (SPV), private-sector investors from Saudi Arabia, angel investors, and a prominent business group. The strategic financing portion of US$47 million was provided by Meezan Bank Limited, Pakistan’s first and largest Islamic bank, rated AAA/A-1+.
Founded in 2017, Haball has grown steadily thanks to its positive unit economics, strategic vision, and a strong track record of leveraging impactful investments. The company plans to use the funds to strengthen its market leadership in Pakistan and expand into Gulf Cooperation Council (GCC) countries, particularly Saudi Arabia (KSA), where it will open a regional office in 2025.
CEO and Founder Omer bin Ahsan stated:
“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 eco-system. Widespread digitisation of financial systems – as offered by Haball – will drive economic growth and financial inclusion; imperative for SMEs’ success across Pakistan.”
Haball’s Strategic Expansion into KSA and Beyond
Haball’s expansion into KSA in 2025 is set to unlock substantial growth opportunities for local businesses and SMEs. With the GCC’s rising demand for Islamic and SME-focused financial services, Haball is also eyeing potential entries into the UAE, Qatar, and broader MENA and Asian markets.
Haball’s platform delivers a shariah-compliant, end-to-end financial solution covering everything from digital invoicing and tax compliance to payment collection and financing. It helps businesses improve cash flow visibility, streamline payments, and enhance tax reporting, driving both economic growth and financial inclusion.
The company has already processed over US$3 billion in payments and disbursed over US$110 million in financing, serving nearly 8,000 SMEs in Pakistan. Multinationals like Coca-Cola are also on its client list. Haball also became the first fintech in Pakistan licensed by the Federal Board of Revenue for digital invoicing, and it’s on track to become a regulated payment initiation service provider with access to Raast, the country’s first instant payment system.
Syed Tanveer Hussain, Group Executive at Meezan Bank, commented:
“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 of Zayn VC, added:
“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.”
With a leadership team rich in experience across regulators, banks, and multinational firms, Haball is well-positioned to shape the future of Islamic fintech in Pakistan, the GCC, and MENA.
