HyperPay, a Saudi Arabia-based payment service provider, has closed an eight-digit funding round.
The fresh line of funds will be used to deepen the infrastructure in Saudi Arabia, growing its product suite and accelerating expansion across Egypt and the Gulf Cooperation Council (GCC).
Investing was led by Mad’a Investment Company, with contributions also coming from Saudi Venture Capital Company (SVC), iNet, MEVP and other investors. Several early-stage investors of HyperPay were able to complete successful exits through the round.
The FinTech company was founded in 2014 and helps process millions of transactions each year for thousands of merchants selling goods and services online.
Its products include a management dashboard, reporting and analytics, multi-currency acceptance, one-click checkouts, simple integration, omni-channel payments, fraud management and recurring payments.
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.”
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