RIYADH, Saudi Arabia, Dec. 26, 2019 /PRNewswire/ -- HyperPay, an award-winning payment service provider in the MENA region, announced today the closing of an 8-digit investment round, led by Mad'a Investment Company, with participation from Saudi Venture Capital Company (SVC), iNet, MEVP, and other investors. The round also included successful exits for investors who participated in early-stage funding.
Founded in 2014, HyperPay has been processing millions of transactions every year for thousands of merchants selling goods and services online.
This latest round of 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.
The Saudi-headquartered company offers world-class payment solutions to local and global businesses in the region, contributing to the Kingdom's Vision 2030 by moving towards a cashless society and boosting digital transactions and e-commerce.
Muhannad Ebwini founder and CEO of HyperPay, said: "We have been fortunate to have some of the Kingdom's leading investors believe in HyperPay's potential. We are looking forward to the upcoming year as it will hold new and exciting projects, and closing this round will support in actualizing our objectives for 2020."
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.
About HyperPay: HyperPay is the fastest growing Saudi based payment service provider, enhancing the online buying experience in the MENA region. Since its launch in 2014, HyperPay has enabled more than 1,000 internet businesses, across almost every industry, to accept and manage payments online, with more flexibility, security and ease. Today, HyperPay continues to quickly expand its suite of products and services to meet the online payment needs of businesses, ranging from the smallest to the largest enterprises.
About Mad'a Investment Company: Mad'a Investment Company is a Private Equity firm headquartered in Riyadh, Saudi Arabia and a wholly owned subsidiary of Abdul Aziz Al Othaim & Sons Holding Company (ASO&SONS). We aim to assist businesses to reach their true potential by unlocking values which otherwise could not have been realized. We strive to create exceptional value to businesses through our team of investment and operating professionals working collaboratively with the management of our portfolio companies. We as a Saudi Company are committed to contributing to the Kingdom of Saudi Arabia and our Investment Strategy is aligned with the Vision 2030.