HobiaPay, a FinTech company specializing in healthcare financial solutions, has successfully closed its Pre-Seed funding round of 1,500,000 SAR. The round was led by Iwan Ventures, with participation from Odba VC and Beetleware (BW).
HobiaPay is on a mission to revolutionize healthcare payments by providing seamless, efficient, and accessible financial solutions tailored for the sector.
With this investment, the company aims to enhance its platform, expand market reach, and accelerate product development to empower both healthcare providers and patients with smarter financial tools.
Lewa Abukhait, Founder and CEO of HobiaPay said, “We are thrilled to have the backing of such experienced investors who share our vision of transforming healthcare payments.
“Being part of Iwan Ventures’ venture-building ecosystem has been instrumental in shaping our vision and strategy, and attracting Odba VC’s first investment in a Saudi-based startup reinforces the immense potential of our market and solution.
“This funding will enable us to scale our technology and make healthcare financial solutions more accessible and efficient across the region.”
Abdulrahman Qandeel, Chairman of Iwan Ventures, emphasized the pivotal role of venture building in HobiaPay’s journey and the broader opportunities in the sector: “At Iwan Ventures, we are committed to supporting and building high-impact startups that address critical market needs.
“HobiaPay is a prime example of how venture building can create and scale innovative solutions in vital industries like healthcare. We strongly believe in the potential of this sector and are confident that HobiaPay will drive significant advancements in healthcare financial technology.”
Commenting on the investment, Gbite Oduneye, Managing Partner at Odba VC, highlighted the significance of this milestone: “This marks our first investment in a Saudi-based startup, and we couldn’t be more excited.
“We strongly believe in the Saudi market and its immense potential for FinTech innovation, particularly in the healthcare sector. HobiaPay is well-positioned to drive meaningful impact, and we are proud to support their journey.”
With the increasing demand for digital financial solutions in the healthcare sector, HobiaPay is set to bridge the gap between medical service providers and patients, ensuring a more efficient and transparent financial ecosystem.
