HyperPay, a Riyadh, Saudi Arabia-based payment processing company, closed an 8-digit funding round.
The round – which also included successful exits for investors who participated in early-stage funding – was led by Mad’a Investment Company, with participation from Saudi Venture Capital Company (SVC), iNet, MEVP, and other investors.
This 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.
Founded in 2014 by Muhannad Ebwini, CEO, HyperPay is a payment service provider which processes millions of transactions every year for thousands of merchants selling goods and services online in MENA.
Since its launch in 2014, the company has enabled more than 1,000 internet businesses, across almost every industry. FinSMEs 02/01/2020