SEPTEMBERASIA BUSINESS OUTLOOK8NEWSROOMHala, a leading Saudi Arabia-based fintech company, has secured US$157 million in a Series B funding round led by TPG's Rise Fund and Sanabil Investments, marking one of the largest recent funding rounds in the region's fintech space.The round also saw participation from top global and regional investors, including QED, Raed Ventures, Impact 46, Middle East Venture Partners, Isometry Capital, Arzan VC, BNVT Capital, Kaltaire Investments, Endeavor Catalyst, Nour Nouf Ventures, Khwarizmi Ventures, and Wamda Capital.Founded to empower micro, small, and medium-sized businesses (MSMEs), Hala offers embedded financial services, enabling seamless digital transactions and financial access. The company reports serving over 142,000 clients and processing more than US$8 billion in annual transactions, positioning it as a key player in Saudi Arabia's rapidly growing digital economy.With the fresh capital, Hala plans to launch new lending products, expand its offerings, and strengthen its position in the Saudi market. The company also aims to accelerate its regional expansion into other Middle Eastern markets, aligning with Saudi Arabia's Vision 2030 agenda of fostering financial inclusion and digital transformation.This funding round underscores strong investor confidence in Hala's scalable business model and its mission to close the financial gap for MSMEs by providing innovative, tech-driven solutions that simplify payments, lending, and financial management. · Hala raised $157M in Series B funding led by TPG's Rise Fund & Sanabil· The fintech serves 142K+ MSMEs, processing $8B+ in transactions annually· Funds will fuel new lending products, Saudi growth, and regional expansion· Tencent Cloud opens AI tools to help businesses integrate AI· Supports domestic chips and participates in open-source projects· Offers cost-efficient AI computing via heterogeneous platformTencent, one of China's leading technology companies, has announced that it is opening its artificial intelligence (AI) capabilities to external users through Tencent Cloud.The initiative is designed to help companies across industries seamlessly integrate AI into their operations, addressing growing demand for intelligent solutions and computing power.Qiu Yuepeng, Vice President of Tencent Group and President of Tencent Cloud, emphasized that Tencent Cloud now supports mainstream domestic chips, ensuring flexibility and resilience in its computing infrastructure. He also highlighted the company's participation in open-source AI projects, reinforcing Tencent's commitment to fostering collaborative innovation. Tencent Cloud is making a long-term strategic investment to optimize its hardware and software stack. Its heterogeneous computing platform integrates multiple chip types, enabling it to offer high cost-performance AI computing power to enterprises. This makes it possible for companies to run AI workloads more efficiently while reducing costs.The move reflects Tencent's ambition to become a key enabler of the AI economy in China, helping businesses enhance productivity, streamline operations, and unlock new growth opportunities. By democratizing access to powerful AI tools, Tencent Cloud is positioning itself as a crucial partner for enterprises navigating digital transformation. HALA RAISES $157M TO BOOST MSME FINTECH EXPANSIONTENCENT CLOUD OPENS AI CAPABILITIES TO BUSINESSES
< Page 7 | Page 9 >