Fundraising FoxHyperpay
Riyadh, SA · 7 known investors
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HyperPay is a fintech payment platform offering e-payment gateway services, recurring billing, payouts, and invoicing for businesses across the MENA region. The platform serves merchants in e-commerce, hospitality, education, financial services, government, and insurance sectors.
Also known as HyperPay · HyperPay Inc. · هايبر باي
Investors · 7
How we know: AB Ventures (Arab Bank)'s portfolio page · Not right? Tell us
Also in the syndicate · 2
Company profile
researched Aug 2026HyperPay Inc. is an online payment solution provider founded in 2010 by Muhannad Ebwini (also transliterated Mohannad Ebwini/Muhannad Abweni). Its core product is a payment gateway that lets businesses accept online payments, with additional merchant services including risk and fraud management, transaction monitoring, instalments and invoicing. Sources describe the company as headquartered in Saudi Arabia, while a Jordanian ICT directory lists an Amman office and contact details and one university report describes its headquarters as Amman, Jordan.
The product family spans HyperPay (online acceptance and data/reporting), HyperSight (real-time monitoring and analytics on transaction declines and acceptance rates), HyperSplit (payouts to beneficiary bank accounts for marketplaces and service providers), HyperTap (softPOS turning mobile devices into contactless POS terminals accepting EMV contactless cards, NFC phones and wearables), HyperBill (recurring and subscription billing) and HyperHospitality (hotel booking and payment collection). Following the 2023 acquisition of Sanad Cash, the company added corporate spend management and issuing capabilities, also offered as a white-label service to other fintechs. Its stated offering includes mobile payments, eCommerce solutions and prepaid cards.
HyperPay is described as the second certified online payment solution provider in Saudi Arabia as an eMSP payment gateway certified by Saudi Payments, and it holds a Saudi Central Bank (SAMA) license for Information Systems Technology.
Founding story
HyperPay was founded in 2010 by Muhannad Ebwini, who previously grew the regional alternative payment provider OneCard between 2004 and February 2010, worked at Maktoob as business development manager for the online auction service that became Souq.com, and held sales and marketing roles at web development firm eSolution in Amman. He holds an MBA in management and international business from NYIT and a BSc in computer software engineering from Princess Sumaya University for Technology in Amman, and was appointed to the board of card issuer GateToPay in 2017.
Business model
HyperPay sells payment acceptance and related financial software to merchants, providing gateway processing plus adjacent services such as fraud and risk management, monitoring, instalments, invoicing, recurring billing, payouts, softPOS acceptance and, after the Sanad Cash acquisition, corporate expense management and card issuing. Certain services, including Sanad Cash's expense management and issuing, are offered as white-label products that other fintech companies can embed in their own offerings.
Merchant payment processing and gateway services, with additional software services including instalments, invoicing, subscription billing, payouts, monitoring/analytics, spend management and issuing, plus white-label licensing to other fintechs.
Traction
A company directory recorded more than 2,000 merchants across seven countries and 60 staff; by the July 2023 acquisition announcement HyperPay reported serving more than 5,000 merchants in seven countries. Transaction volume processed between merchants and businesses was reported at $7 billion in 2022, up from $4.7 billion in 2021. Cumulative funding was reported at over $50 million as of July 2023.
Latest developments
In July 2023 HyperPay announced the acquisition of Saudi spend-management fintech Sanad Cash for an undisclosed amount, planning to integrate Sanad Cash's expense management and issuing capabilities into its platform and to offer them as white-label services. Company materials also cite a SAMA license for Information Systems Technology supporting an expansion of its service range.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Described in press coverage as one of the largest and fastest-growing payment services providers in the MENA region and among the top five payment providers in the region; a Jordanian university report placed the company among the top 30 most influential financial technology companies in the Middle East for 2023.
The company positions itself as an all-in-one regional payments platform, bundling gateway acceptance with monitoring, fraud control, payouts, recurring billing, softPOS and hospitality-specific payment workflows, and holds Saudi regulatory credentials including Saudi Payments eMSP certification and a SAMA Information Systems Technology license.
Technology
The platform combines gateway processing with real-time transaction monitoring and analytics, risk and fraud management, split payouts, subscription/recurring billing and contactless mobile point-of-sale (softPOS) acceptance of EMV contactless cards, NFC-enabled phones and wearables, with digital receipts delivered via SMS or email.
Go-to-market
HyperPay sells directly to merchants across sectors such as travel, telecom, e-commerce and hospitality, and expands through regional market entry, regulatory licensing, partnerships with card networks such as Mastercard, and acquisitions; it also distributes capabilities on a white-label basis to other fintech companies.
Merchants and businesses accepting online and in-person payments, including airlines and travel, telecommunications/GSM operators, e-commerce and digital services, hotels and hospitality, online marketplaces, plus corporates, governments and SMEs.
Geography
Headquartered in Saudi Arabia with an Amman, Jordan office; markets listed include KSA, UAE, Jordan, Egypt, Iraq, Oman and Lebanon. The 2022 funding round was earmarked for expansion into Egypt, Qatar and Oman. As of 2023 the company reported serving merchants across seven countries.
History
Established in 2010 in Saudi Arabia, HyperPay built an online payment gateway serving merchants across MENA and became the second certified eMSP payment gateway in Saudi Arabia under Saudi Payments. In June 2022 it raised $36.7 million in a round led by Mastercard with Amwal Capital Partners and AB Ventures, characterised in one report as Mastercard's largest investment in a startup in the region. In July 2023 it acquired Sanad Cash, by which point reported cumulative funding exceeded $50 million.
Compiled by commissioned research from 7 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 · 5
launches, deals, and filingsHyperPay is reported to hold a SAMA-issued license for Information Systems Technology, enabling it to broaden its range of services in Saudi Arabia.
HyperPay acquired Saudi spend-management fintech Sanad Cash for an undisclosed amount, planning to integrate its expense management and issuing solutions into HyperPay's platform and offer them as white-label services.
HyperPay was listed among the top 30 financial technology companies in the Middle East for 2023.
HyperPay raised $36.7 million (SAR 138 million) in a round led by Mastercard with participation from Amwal Capital Partners and AB Ventures, to support expansion into Egypt, Qatar and Oman and to grow its technology team and R&D.
$36.7M source ↗
The transaction with Mastercard was framed as a partnership to help HyperPay expand beyond payments and offer businesses, governments and SMEs services supporting a shift from cash-based payments.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 7
primary sources listed
- Hyperpay raises $36.7 million led by Mastercard - Wamdawamda.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Hyperpay do?
- HyperPay is a MENA payment gateway offering merchants payment processing, fraud management, instalments and invoicing tools.
- Who are Hyperpay's investors?
- Hyperpay's investors include AB Ventures (Arab Bank), Mad'a Investment Company, Merak Capital, Silicon Badia, Middle East Venture Partners (MEVP).
- Where is Hyperpay headquartered?
- Hyperpay is headquartered in Riyadh, SA.