Saudi-based regional Fintech HALA acquires UAE’s payment startup – Paymennt.com as it aims to expand its foothold in the SME sector

Saudi-based regional Fintech HALA acquires UAE’s payment startup – Paymennt.com as it aims to expand its foothold in the SME sector

The fast growing Saudi Arabia based regional FINTECH, Hala today announced that it has acquired, through its holding company, United Arab Emirates Paymennt.com during the second edition of the Largest Global Technology event – LEAP 2023.

Paymennt.com, previously called PointCheckout established in 2017 and cofounded by Bashar Saleh and Tarek Ghobar, is a payment service provider, regulated by the Abu Dhabi Global Market’s RegLab, and with offices across UAE and Jordan. Paymennt.com serves more than 2,000 micro and small businesses through offering them a platform to support their offline-to-online journey along with an integrated online payment solution and has managed to grow by over 250% in payment processing year-over-year.

This acquisition will allow Hala to further enhance its product offerings by incorporating online payments, enabling its SME customers to increase their online presence and process omnichannel payments both offline and online.

HALA had made progressive leaps within the FINTECH industry ever since it commenced its operations in 2018, with a clear focus on serving SME’s. The company witnessed significant growth in 2022 by doubling its customer base and its revenues year over year.

It is worth noting that this is the second acquisition for Hala since its inception, the first of which was the