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HyperPay

Can HyperPay become the dominant all-in-one financial operating system for businesses across the Arab world by layering spend management, payouts, and fraud protection on top of its payment gateway infrastructure?

Founded2010
HQRiyadh, Saudi Arabia
FoundersMuhannad Ebwini
Total raised$51.2M
Latest roundSeries B (led by Mastercard), $36.7M
IndustryFintech / Payments
The story

HyperPay was founded in 2010 and began processing online payments in 2014, quickly becoming one of the fastest-growing PSPs in the MENA region. The company evolved from a pure payment gateway into an all-in-one fintech platform offering payments, invoicing (HyperBill), payouts (HyperSplits), fraud protection (Protect), hospitality payments, tap-to-pay (HyperTap), and spend management with virtual and physical corporate cards. The $36.7M fundraise led by Mastercard validated HyperPay's regional ambitions, and its 2025 Saudi Central Bank license signals further expansion into broader financial services.

Last 12 months
2025-02
2025-01
Product timeline
2010
HyperPay founded in Saudi Arabia by Muhannad Ebwini.· pivot
2014
Began processing online payments commercially, establishing itself as a payment gateway in the MENA region.· banking
2017
Founder Muhannad Ebwini appointed to board of GatetoPay, a card-issuing company for prepaid Mastercard, Visa, and UnionPay cards in the Middle East.· card
2025
Extended partnership with ACI Worldwide to advance AI-driven payment innovations across the MENA region.· pivot
2025
Obtained new license from the Saudi Central Bank to expand digital services in Saudi Arabia.· banking
Regulated entities
1
regulatory licence held by HyperPay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in HyperPay’s embedded-finance stack
Payments / PSP
HyperPay (self-operated)
Card network
in the full report
Accounting gap: significant
2 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.