Fintech Investment Services News

HyperPay, the Leading Payment Processing Company in MENA, Closes an Investment Round Led by Mad’a Investment Company

HyperPay Introduces TSS, Security Level Further Upgraded

HyperPay, an award-winning payment service provider in the MENA region, announced the closing of an 8-digit investment round, 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, HyperPay has been processing millions of transactions every year for thousands of merchants selling goods and services online.

Read More: Lincoln International Reports Slowing Middle Market Growth At 1.4% In Q3 2019, As Bifurcation In Performance Amongst Industries Unfolds

This latest round of funding will be used in three key areas, which are investing in infrastructure in Saudi Arabia, growing a suite of products, and accelerating expansion across Egypt and the GCC.

The Saudi-headquartered company offers world-class payment solutions to local and global businesses in the region, contributing to the Kingdom’s Vision 2030 by moving towards a cashless society and boosting digital transactions and e-commerce.

Muhannad Ebwini founder and CEO of HyperPay, said: “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.”

Read More: Farmer Mac Names Aparna Ramesh as EVP – Chief Financial Officer and Treasurer

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.

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 enabled more than 1,000 internet businesses, across almost every industry, to accept and manage payments online, with more flexibility, security and ease. Today, HyperPay 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.

Read More: Credorax Partners With Raisin to Offer Exclusive Banking Products to German Market

Related posts

New Wolters Kluwer Survey of Tax & Accounting Professionals Identifies key Underlying Factors Driving Firm Growth and Profitability

Fintech News Desk

Wipro and First Horizon Bank are Building A Cloud-based Fintech Future for VirtualBank

Fintech News Desk

COVID-19 Crisis Highlights Need for Real-Time and New Digital Payments Services Around the World, New ACI Worldwide Research Reveals

Fintech News Desk
1