Saudi Arabia-based fintech startup HyperPay raises $36.7 million

Oluwajuwonlo Afolabi -

HyperPay, a Saudi Arabia-based fintech firm has raised $36.7 million in its new funding round led by Mastercard.

  • The funds will be used to improve its tech team, build out new products, and support its expansion into Egypt, Qatar, and Oman.
  • HyperPay offers enterprises payment processing services including risk and fraud management, monitoring system, instalments, and invoicing system.
  • Amwal Capital Capital Partners and AB Ventures participated in the funding round.