In a country where businesses are still mired in manual processes and paper-based transactions, Haball, a fintech company founded in 2017, has set its sights on revolutionizing Pakistan’s B2B financial infrastructure. Through a disciplined and quiet fundraising journey, Haball has secured $52 million in a mix of equity and debt financing, marking a significant milestone in its mission to modernize the country’s supply chain ecosystem. With this new capital, Haball is poised to further its expansion and solidify its position as a key player in Pakistan’s growing fintech sector.
The $52 million raise is divided into $5 million in equity and $47 million in debt financing. The equity portion was led by Zayn VC, a prominent venture capital firm in Pakistan, along with support from Majlis Advisory SPV, several angel investors, and a major Pakistani business conglomerate. The debt component primarily comes from Meezan Bank, Pakistan’s largest Islamic bank, which has provided strategic financing through a series of tranches over several years. Meezan Bank’s involvement is especially noteworthy as it underscores the alignment with Haball’s shariah-compliant model, which is essential for the company’s potential expansion into the Gulf Cooperation Council (GCC) region.
Haball’s funding approach stands in stark contrast to the fanfare often seen with large startup rounds. Instead of rushing to raise large sums quickly, Haball has maintained a patient and methodical approach to securing capital. Each funding tranche has been tied to specific milestones such as product development, revenue growth, and regulatory compliance, allowing the company to scale steadily while minimizing dilution. This deliberate strategy has ensured Haball’s long-term sustainability and a solid financial foundation.
At the core of Haball’s business model is its ability to address the long-standing inefficiencies in Pakistan’s supply chain, where businesses often rely on manual processes for invoicing, payments, and inventory management. The fragmented systems have created significant bottlenecks in the economy, with transactions often taking days or even weeks to complete. Haball aims to solve these problems by providing a comprehensive digital platform for payments, invoicing, and financing.
Haball’s platform offers three key revenue streams: as a payments aggregator, a digital invoicing service, and a supply chain financing solution. By enabling seamless digital payments between manufacturers, distributors, and SMEs, Haball reduces cash handling, improves reconciliation, and increases transparency across supply chains. Additionally, its invoicing service automates the creation and tracking of invoices, providing real-time visibility for businesses. This invoicing data also allows Haball to offer financing solutions to SMEs, enabling early payments on approved invoices to support business growth and liquidity management.
The company’s partnership with Meezan Bank is a critical aspect of its financing model. By collaborating with regulated banks, Haball is able to access deep liquidity without assuming credit risk on its own books. This shariah-compliant financing solution provides SMEs with much-needed access to working capital while adhering to Islamic principles, making it an attractive alternative to conventional banking options.
As Haball continues to grow, it plans to use its recent funding to deepen its infrastructure across its core areas of payments, invoicing, and financing. The goal is to strengthen the financial backbone of Pakistan’s B2B sector, which makes up 60% of the country’s GDP. In doing so, Haball aims to create a seamless and efficient flow of money and data between manufacturers, distributors, and retailers, ultimately transforming the way business is done in Pakistan.
Looking beyond Pakistan, Haball sees significant opportunities in the GCC region, where Islamic supply chain financing is still in its early stages. With a proven, shariah-compliant platform already scaled in Pakistan, Haball is well-positioned to meet the growing demand for ethical financing solutions in the Gulf. As economies in the GCC continue to prioritize the support of SMEs, Haball’s technology offers a ready-made solution for businesses looking to digitize payments, streamline invoicing, and access interest-free financing options.
In conclusion, Haball’s quiet yet strategic approach to fundraising, combined with its focus on solving systemic issues in Pakistan’s supply chain, has enabled it to build a sustainable and scalable fintech model. As the company continues to expand its services and reach, it is well on its way to becoming a vital player in the global fintech landscape, especially in the rapidly growing Islamic finance space.