Hawala Inc., a company focused on financial infrastructure, has successfully raised $3,000,000 in investment capital from a group of notable investors. This funding round marks a significant milestone for the firm as it continues to develop its platform for global money movement.
Hawala aims to accelerate financial infrastructure connecting the MENA region to the global economy. For individuals, the platform simplifies global money transfers, allowing users to create U.S. accounts or European IBANs, receive payments in USD and EUR, and move funds across over 200 countries. It serves freelancers, remote workers, and those sending remittances, emphasizing fast, transparent, and accessible cross-border payments without intermediaries or hidden fees. For businesses, Hawala provides tools to streamline global payments, enabling companies operating in or with MENA to pay international partners, contractors, and employees efficiently, thereby reducing transfer costs and settlement times.
The investment was secured from institutional investors Pharsalus Capital and Alumni Ventures. Prominent angel investors also participated, including Naguib Sawiris, Chairman of Orascom Development Holding; Hany Rashwan, Co-Founder & CEO of 21.co; Arnold Lee, Co-Founder & CEO of Sphere Labs; and Carl Lin, Founding Engineer at Solana. This capital infusion will be directed towards expanding Hawala's technological infrastructure, enhancing its service offerings, and scaling its operations to meet growing demand.
This funding is expected to further solidify Hawala's position in the fintech sector, enabling the company to continue its mission of building robust financial bridges between MENA and the rest of the world. Hawala plans to leverage this investment to accelerate its growth initiatives and expand its reach, ultimately improving the efficiency and accessibility of global financial services for its user base.
