B2B Fintech Haball Raises $52 Million Led by Faisal Aftab’s Zayn VC

Haball, Pakistan’s leading supply chain financing and payments fintech, raises a US$52 million pre-Series A funding round comprising equity investment and a strategic financing allocation. The round’s equity component of US$5 million was led by Zayn VC, Pakistan’s premier venture capital firm. Other investors included Majlis Advisory SPV, several leading private investors in KSA, angel investors, and a prominent business conglomerate. The strategic financing component (US$47 million) was provided by Meezan Bank Limited, Pakistan’s first and largest Islamic bank, rated AAA/A-1+. The announcement follows a deliberate strategy of responsible fundraising by the Company since its 2017 inception. Investors have been attracted to, and closely aligned with, Haball’s positive unit economics, strategic focus, and track record of attracting and leveraging impactful investments. The proceeds will support Haball in consolidating its market leadership in Pakistan and drive a targeted expansion into the GCC, responding to the clear market demand for shariah-compliant SME-focused digital financial services. Supply chain finance in Pakistan is nascent but is expected to be worth over US$9 billion; driven by the severe financing gap faced by the country’s SMEs – less than 5% can access financing from commercial banks. Haball will enter the KSA market in 2025 – to service SMEs and unlock millions in growth opportunities for KSA companies. A regional office will also be opened in the Kingdom. The Company is also exploring additional market entries across the Middle East; such as in the UAE and Qatar; and Asia. Omer bin Ahsan, Founder and CEO of Haball, commented: Haball provides shariah-compliant financing to SMEs and multinationals, streamlining transactions for businesses via an end-to-end solution incorporating payment collection, digital invoicing, tax compliance, and financing. The Company’s shariah-compliant financial services improve cash flow visibility, tax reporting processes and streamline digital payments, driving economic growth and benefiting Pakistan’s financial inclusion initiatives. Already a market leader for supply chain-focused financial services in Pakistan, Haball has processed over US$3 billion in payments and disbursed over US$ 110 million in financing, optimizing supply chains across the country. Customers include nearly 8,000 SMEs across Pakistan, across verticals, and multinationals such as Coca-Cola. Haball has worked closely with regulators, becoming the first Pakistan fintech to receive a license from the Federal Board of Revenue for digital invoicing. It was also selected by the State Bank as a multi-bank supply chain financing platform, and is on track to become a regulated payment initiation service provider with access to Raast – Pakistan’s first instant payment system. Syed Tanveer Hussain, Group Executive Corporate, Commercial & Investment Banking at Meezan Bank, said: Faisal Aftab, Founder and Managing Partner at Zayn VC, said: Haball’s senior leadership team have extensive track records working for regulators, banks, and multinational corporations – demonstrating credibility and expertise across their careers.