HyperPay, an award-winning payment service provider in the MENA region, announced today 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.
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.”
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.