KSA Business: HyperPay raises $36.79m in new investment round – Gulf Digital News

KSA Business: HyperPay raises $36.79m in new investment round – Gulf Digital News

HyperPay, a fast-growing payments services provider in the Middle East and North Africa (MENA), has successfully raised SR138 million ($36.79 million) in a new funding round.

The round was led by Mastercard with investments from Amwal Capital Partners and AB Ventures.

The agreement with Mastercard entails a strategic and commercial partnership in the MENA region that will help accelerate HyperPay’s expansion beyond payments to deliver a complete suite of financial products that meet the evolving needs of its customers across all verticals, said the company.

The partnership will allow HyperPay to offer new services to help businesses, governments and SMEs move from cash-based payments to a frictionless and seamless ecosystem utilizing the innovative capabilities of both HyperPay and Mastercard.

This new funding round will also support HyperPay’s regional expansion efforts, broadening their market to Egypt, Qatar, and Oman. It will also enable HyperPay to grow its tech team and invest in product research and development, to introduce new payment technology solutions with speed, it siad.

Muhannad Ebwini, Founder and CEO of HyperPay, said: “HyperPay is delighted to welcome Mastercard, Amwal, and AB Ventures as new investors and we are confident of the value-add they bring to our company to achieve its long-term growth strategy. This