Saudi’s fintech startup HyperPay receives 8-figure investment to grow its mobile payment processing platform

HyperPay, a Saudi Arabia-based fintech startup and payment service provider for online merchants in the Middle East and North Africa, has closed an 8-digit investment to invest in infrastructure in Saudi Arabia, growing a suite of products, and accelerating expansion across Egypt and the GCC. The round was led by Mad’a Investment Company, with participation from Saudi Venture Capital Company (SVC), iNet, MEVP, and other investors. The round also included successful exits for investors who participated in early-stage funding.

Founded in 2014 by Muhannad Ebwini, the Riyadh, Ar Riyad, Saudi Arabia-based HyperPay is the fastest growing Saudi based payment service provider, enhancing the online buying experience in the MENA region. Since its launch in 2014, HyperPay has been processing millions of transactions every year for thousands of merchants in the Middle East and North Africa selling goods and services online.

To provide more coverage for its customer base, HyperPay is already connected to over 400 payment methods and international currencies, giving merchants the ability to reach more customers across the globe. Since inception, HyperPay has enabled over one thousand internet businesses, across almost every industry in the MENA region, to accept and manage payments online, with more flexibility, security and ease. The startup continues to quickly expand its suite of products and services to meet the online payment needs of businesses, ranging from the smallest to the largest enterprises.

“We have been fortunate to have some of the Kingdom’s leading investors believe in HyperPay’s potential. We are looking forward to the upcoming year as it will hold new and exciting projects, and closing this round will support in actualizing our objectives for 2020,” Muhannad Ebwini founder and CEO of HyperPay, said.

Commenting on the investment, Abdullah Abdulaziz AlOthaim founder and CEO of Mad’a Investment, said: “After keeping a close eye on HyperPay’s activities in recent years, we were impressed by the company’s noticeable growth in Saudi Arabia and its aim to empower the regional ecommerce space by helping move towards a more integrated financial ecosystem which is in line with the Vision 2030. We are delighted to partner with Muhannad and his team as they continue to offer businesses a global standard in digital payments.