Pakistani fintech Haball has raised $52 million to update the country B2B financial ecosystem. Established in the year 2017 by Omar bin Ahsan, the company has seen a steady growth by providing digital solutions to make business transactions faster and less paper based.
Haball’s objective is to digitize payments systems, invoices and even supply chain financing in a country where business operations are often manual and inefficient.
The new $$52 million round of Haball comprises of $5 million in equity and $47 million in debt.
What sets Haball apart is its crawl walk run strategy. It raised capital in phases over time based on achieving key business milestones.
Haball currently serves more than 8,000 SMEs with prominent clients such as Coca Cola.
The Haball solution is addressing major pain points in Pakistan’s supply chain like long payment cycles, manual record keeping and limited access to formal credit.
Haball allows businesses to do digital payments and automate invoices. Their strategy also involves working with regulated banks such as Meezan Bank for lending purpose and providing a sound financial structure without additional risk.
Moving forward Haball plans to grow within the Gulf region where there is a rising demand for ethical Shariah compliant financing solutions.
Also read: Google Wallet Launched in Pakistan: How to Use and Supported Banks
