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Fintech Investment Remains Resilient Amid Market Volatility
Even as markets react to heightened global uncertainty—including tariffs introduced by the Trump administration—investors continue to back fintech companies showing strong fundamentals and targeted growth strategies. Two recent funding rounds underscore this trend: Pakistan-based Haball and French fintech Pennylane both secured major investments, signaling that capital is still flowing into the sector despite ongoing volatility.
While the broader economic climate has triggered IPO delays (see Chime and Klarna) and valuation pressure across tech, these deals suggest that investors are still willing to support fintechs addressing structural needs in emerging and underserved markets.
Haball Raises $52 Million to Expand Supply Chain Finance
Islamic fintech company Haball, based in Pakistan, announced a $52 million pre-Series A funding round to scale its Shariah-compliant supply chain financing platform. The round includes $5 million in equity led by Zayn VC, with participation from investors in Saudi Arabia and Pakistan. The remaining $47 million comes as strategic financing from Meezan Bank, the country’s largest Islamic bank.
Founded in 2017, Haball provides financing solutions for small and medium-sized enterprises (SMEs), streamlining business payments, digital invoicing, tax compliance, and credit access through a fully integrated digital platform. With more than $3 billion in processed payments and over $110 million disbursed to nearly 8,000 SMEs, the company has positioned itself as a market leader in Pakistan’s growing digital finance sector.
The funding will also support Haball’s international expansion, beginning with entry into Saudi Arabia in 2025, and plans to open a regional office in the Kingdom. Future market entries across the GCC and Asia, including the UAE and Qatar, are also under consideration.
According to Haball CEO Omer bin Ahsan, the opportunity lies in solving long-standing inefficiencies in supply chain financing and expanding access to compliant financial services in markets underserved by traditional institutions. The company has already secured regulatory recognition, becoming the first fintech licensed by Pakistan’s Federal Board of Revenue for digital invoicing.
Pennylane Doubles Valuation in $81 Million Round
Meanwhile, in France, accounting software platform Pennylane raised €75 million (approximately $81 million USD), doubling its valuation to €2.2 billion ($2.16 billion USD). The round was co-led by Sequoia Capital, CapitalG (Alphabet’s growth fund), and Meritech, with participation from DST Global.
Pennylane offers an all-in-one digital accounting solution for small and medium-sized businesses, integrating invoicing, cash flow management, forecasting, and expense tracking. Launched in 2020, the platform now serves 4,500 accounting firms and more than 350,000 SMEs.
The company currently operates solely in France, but with the new funding, Pennylane plans to expand to Germany by summer 2025 and scale across Europe in the near future. CEO Arthur Waller told CNBC that the company expects to reach €100 million in annual recurring revenue by the end of the year and achieve breakeven status in the same period.
Pennylane’s roadmap also includes expanding its workforce to 800 employees and embedding advanced artificial intelligence into its platform. The startup is positioning its AI as a “co-pilot” for accountants, aiming to streamline workflows and improve advisory capacity.
Context: Funding Surges Despite Global Headwinds
These developments arrive as global markets contend with significant disruption. President Trump’s recently announced tariffs—10% baseline on all imports and up to 54% on countries such as China, India, and Taiwan—have created volatility across public equities and cast uncertainty on tech and trade.
The result has been a wave of IPO delays across fintech, with companies such as Chime and Klarna postponing public listings. Yet despite the cautious mood in public markets, private investors are still deploying capital toward firms with proven traction and regional demand.
In Haball’s case, the opportunity lies in Islamic finance and SME growth, both critical drivers in emerging markets like Pakistan and the GCC. For Pennylane, a wave of e-invoicing regulations across Europe is pushing adoption of new accounting technology, offering a significant expansion opportunity across fragmented markets.
Fintech Adaptability Holds Investor Attention
Although rising interest rates, inflation risks, and macroeconomic shifts are forcing many fintechs to reassess strategies, these funding rounds show that investor appetite remains intact—particularly when companies target well-defined customer segments and have a clear path to growth or profitability.
From Shariah-compliant financing in South Asia to AI-powered accounting in Europe, fintechs that align with local needs and regulatory trends appear to be navigating uncertainty better than others. Both Haball and Pennylane demonstrate how specialization, compliance, and scalable models continue to attract backing, even as global economic sentiment remains mixed.
