Haball Raises $52 Million Pre-Series A to Expand into GCC Market

In a major boost to Pakistan’s fintech and digital infrastructure landscape, Haball, a homegrown supply chain financing and payments platform, has quietly raised $52 million in pre-Series A funding.

The funding round, comprising $5 million in equity and $47 million in strategic financing, stands out not just for its size but for its measured and milestone-based approach. Unlike many startups chasing rapid capital, Haball stayed the course for years, aligning each funding tranche with tangible progress: revenue growth, regulatory licenses, and client acquisition.

The equity portion was led by Zayn VC, one of Pakistan’s most prominent early-stage VCs, and joined by Majlis Advisory SPV, KSA-based private investors, angel investors, and a major Pakistani conglomerate. The strategic financing came from Meezan Bank, the country’s largest Islamic bank, which not only funded Haball but effectively endorsed its shariah-compliant model.

Since its 2017 founding, Haball has been on a mission to digitize Pakistan’s deeply analog B2B landscape. In a market where payment delays, handwritten invoices, and cash-in envelopes still dominate, Haball saw a gap and built a three-tiered solution: digital payments, invoicing, and shariah-compliant financing. It now supports over 8,000 SMEs and has processed $3 billion+ in payments while disbursing $110 million in financing—servicing multinationals like Coca-Cola and thousands of local businesses.

But perhaps what truly defines Haball is its ability to embed into the financial bloodstream of Pakistani business. The platform integrates seamlessly with ERP systems, distributors, and banks, acting as a financial bridge in a fragmented ecosystem. It holds regulatory approval from Pakistan’s Federal Board of Revenue for digital invoicing and was chosen by the State Bank of Pakistan as a multi-bank supply chain financing platform. It’s now also in the process of becoming a payment initiation service provider (PISP) under Raast, Pakistan’s instant payment system—allowing it to offer bank-independent digital payments.

“The supply chain is the head of the beast. If it’s slow, the whole system is slow,” noted Founder and CEO Omer bin Ahsan, who previously helped digitize tax collection systems at the FBR before founding Haball. His experience in regulatory design and digital transformation now feeds into Haball’s DNA—creating not just a fintech, but a scalable infrastructure layer for business finance.

Strategic Expansion Plans into Saudi Arabia, UAE, and Qatar

With its consolidation phase in Pakistan now complete, Haball is shifting focus toward the GCC, beginning with KSA in 2025. A regional office will soon open in the Kingdom, as the fintech taps into the GCC’s underdeveloped Islamic supply chain financing space. Markets like UAE and Qatar are also on the radar.

“We look forward to responding to the significant demand in the GCC for shariah-compliant and SME-focused digital financial services,” said Omer, emphasizing Haball’s goal to unlock “millions in growth opportunities” for regional businesses.

Faisal Aftab, Managing Partner at Zayn VC, echoed that vision: “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.”

Meezan Bank’s involvement is equally strategic. Syed Tanveer Hussain, Group Executive at Meezan, called the partnership “a shared vision to strengthen Pakistan’s financial infrastructure – unlocking opportunities for SMEs and enhancing the resilience of supply chains.”