Hawala
2 known investors
Hawala offers a mobile USD and EUR account with real account details and a Visa card, letting users get paid by international clients, spend online and in store, and send money home across borders. It targets freelancers, remittance senders, and multi-currency spenders, holding balances as fully backed dollar stablecoins with regulated partners.
Also known as Hawala · usehawala.com
Founders & leadership
Investors · 2
Funding
SEC filings, press & company announcements- Undisclosed amountpre-seed roundNov 2025
Pharsalus Capital (lead), Alumni Ventures
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Hawala is a consumer financial application that gives users a US dollar and euro account with their own account details, a Visa payment card, and cross-border money transfer and withdrawal features. Accounts are opened from a mobile phone, with identity verification completed remotely; the company states no bank branch visit, US Social Security number or residency is required. Users can share their USD details (account number and ACH routing number) and EUR details (IBAN and BIC/SWIFT) to receive payments from clients and platforms abroad, hold both currencies and switch between them.
Alongside receiving funds, the product supports spending via a virtual card issued immediately at sign-up and a subsequent physical card, usable anywhere Visa is accepted online and in store and addable to Apple Pay and Google Pay. Users can send money to other Hawala accounts or to local bank accounts, and cash out into their local currency to a domestic bank account, with the app displaying the exchange rate, a fixed fee and the amount the recipient receives. The company positions the service around transparent pricing with no hidden fees and settlement in minutes rather than days, and states it operates in markets other apps do not serve.
Regulatory and partner arrangements described by the company include money transmission by Noah US (NMLS #2696057), cards issued by Rain under licence from Visa, and balances held with regulated, audited partners.
Business model
Hawala provides a consumer multi-currency account, card and remittance product delivered through a mobile app, relying on licensed and regulated third parties for money transmission, card issuance and custody of balances.
The website discloses a fixed withdrawal fee (for example $1.00 on a cash-out to a local bank) and states there are no hidden fees on transfers, with foreign exchange applied at displayed rates on local-currency withdrawals.
Traction
The website advertises an available app with a displayed 4.9 rating and announces a $3 million raise.
Latest developments
Hawala announced a $3 million raise to build financial infrastructure across the MENA region.
▸Full profile — market position, technology, go-to-market, geography
Market position
Positions itself as a global account and card provider serving markets that other cross-border money apps skip, with an emphasis on building financial infrastructure across MENA.
Account opening from a phone without a branch visit, SSN or residency requirement; user-owned US and EU account details; stated transparent pricing; minute-level payment, send and withdrawal times; and up to 3% back on eligible card purchases.
Technology
Mobile application providing account issuance with USD ACH and EUR IBAN details, in-app identity verification, currency holding and conversion, card provisioning to Apple Pay and Google Pay, transfers to other Hawala users or local banks, and local-currency payouts.
Go-to-market
Direct-to-consumer distribution via free app downloads from the Apple App Store and Google Play, with self-service phone-number sign-up and remote identity verification.
Individuals earning in foreign currency, including freelancers and contractors paid by international clients and platforms, people sending money to family across borders, and users who need to hold and spend dollars and euros; marketing material references Egypt-based users and MENA more broadly.
Geography
Product is aimed at cross-border users receiving funds from clients and platforms worldwide, with USD accounts referencing a US bank and EUR accounts referencing a Malta-based payments entity; local cash-out examples reference Egyptian banks and the company describes building infrastructure across MENA.
Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 1
launches, deals, and filingsHawala announced on its website that it had raised $3 million to build financial infrastructure across the MENA region.
$3M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 1
primary sources listed
- Hawalausehawala.com · web
1 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Hawala do?
- Hawala is a mobile app offering USD and EUR accounts, a Visa card and cross-border transfers, focused on MENA users.
- Who founded Hawala?
- Hawala was founded by Omar Hamade.
- Who are Hawala's investors?
- Hawala's investors include Pharsalus Capital, Alumni Ventures.