HyperPay
ActiveA payment gateway and fintech platform offering online/offline payment processing, billing, payouts, fraud protection, and expense management for merchants across the MENA region.
HyperPay is a Riyadh-headquartered payment-processing company founded in 2014 by Muhannad Ebwini, serving over 10,000 merchants across Saudi Arabia, the UAE, Jordan, Egypt, Iraq, Lebanon, Qatar, Oman, and Bahrain. Licensed by the Saudi Central Bank (SAMA), it raised $36.7M led by Mastercard (with Amwal Capital Partners and AB Ventures) in mid-2022 to fund regional expansion and IPO preparation, and acquired spend-management platform Sanad Cash in 2023.
Founders
Funding Rounds
Lead: Mastercard
Investors: Mastercard, Amwal Capital Partners, AB Ventures
Investors: Mastercard, Amwal Capital Partners, AB Ventures.
Lead: Mad'a Investment Company
Investors: Mad'a Investment Company, Saudi Venture Capital Company (SVC), iNet, Middle East Venture Partners (MEVP)
'Eight-figure' USD round (i.e. $10M+), exact amount undisclosed; the company's own newsroom lists it as 'HyperPay raises eight-figure investment' (Dec 2019) without a series label. Tracxn calls it Series A. The round included exits for some earlier investors. FinSMEs dated it 2 Jan 2020. Also: https://www.hyperpay.com/news-room/ https://www.finsmes.com/2020/01/hyperpay-closes-8-digit-funding-round.html https://thestartupscene.me/INVESTMENTS/Saudi-s-Fin-Tech-Startup-HyperPay-Scores-8-Figure-Investment Confidence: confirmed (round 13, MENAbytes).
Lead: Integrated Networks (iNet)
Investors: Integrated Networks (iNet)
Labelled "strategic" by the source. Strategic investment by Saudi POS/network operator iNet in Gate2Play/HyperPay; founder Muhannad Ebwini said the amount was 'in the millions of dollars', stake undisclosed. iNet took a strategic role and the company began operating from iNet's Saudi offices. Tracxn labels it Series A. MAGNiTT lists two undisclosed iNet-led rounds (2015 and 2016) - the 2016 one could not be confirmed anywhere. Also: https://tracxn.com/d/companies/gate2play/__DVgAD_82iGnsVypIoHnUHNTo_hB2wBozQ2ilZHFE8PE/funding-and-investors Confidence: confirmed (round 13, Wamda).
Lead: Middle East Venture Partners (MEVP)
Investors: Middle East Venture Partners (MEVP), Accelerator Technology Holdings (ATH)
Raised under the company's original name Gate2Play (Amman, founded 2010; HyperPay was its product brand). Wamda labels it MEVP's 'Series A'; Tracxn and MAGNiTT list it as a $700K seed in Sept 2012 (aggregator figure, not confirmed). MEVP's portfolio page shows the investment came from its Middle East Venture Fund (MEVF) and is now marked 'Exited'. ATH named as an early backer by Wamda in 2015. Also: https://www.mevp.com/portfolio/hyperpay https://tracxn.com/d/companies/gate2play/__DVgAD_82iGnsVypIoHnUHNTo_hB2wBozQ2ilZHFE8PE/funding-and-investors Confidence: confirmed (round 13, Wamda).
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