What Hawala Inc. does

Hawala Technologies, Inc. (DBA Hawala) is a Delaware-incorporated fintech building a multi-currency mobile wallet, Visa card, and cross-border payments platform targeted primarily at consumers and SMEs in the MENA region, with Egypt as its anchor market. The Hawala mobile app — available on iOS and Android, currently waitlisted — issues users real US routing/account details via partner Westmark Federal Bank, European IBANs via partner Lumino Payments Malta, and a Visa debit card (issued by Third National) that works in 170+ countries, supports Apple Pay and Google Pay, and pays 1.5% cashback on eligible purchases. Cross-border transfer settlement runs over stablecoin rails spanning Ethereum, Polygon, Optimism, and Arbitrum, enabling minutes-not-days international transfers and local-currency cash-out in 40+ markets through a partner-agent network.

The stack is regulatory-first: cards are issued by Third National under Visa license, USD/EUR account rails are delivered through licensed US and Maltese banks, and Nigerian operations are routed through BANEX Microfinance Bank for Central Bank of Nigeria compliance, with SOC 2 Type II hosting, GDPR/CCPA-aligned privacy practices, and KYC-based onboarding. Founded by Omar Hamade, the company is headquartered in New York with operations across the MENA region, and it closed a $3 million seed round in October 2025 led by Pharsalus Capital with participation from Alumni Ventures and a syndicate of angel investors (Naguib Sawiris, Hany Rashwan of 21.co, Arnold Lee of Sphere Labs, Carl Lin of Solana).

Hawala's revenue model is transaction-based: international transfer fees, FX margins (including FX up to 3% and cross-border fees up to 3% on the International Spend Card and 1% international transaction fee on the US Credit Card), $1 local-bank withdrawal fees, late/returned-payment penalties in certain tiers, and 1.5% cashback funded from interchange economics. There are no account or annual fees on the US card. The customer base is consumer-led (freelancers, digital nomads, families, students, everyday users) with a dedicated Business tier added for SMEs that need multi-currency business accounts and cross-border payroll/vendor payments. The go-to-market is product-led: app-store acquisition, an Arabic-language content hub, a waitlist that gates country expansion, and word-of-mouth. With fewer than 20 employees and a waitlist-driven launch, the company remains in early commercial traction.

Name

Hawala Inc.

Legal name

Hawala Technologies, Inc.

Website

https://usehawala.com

Company type

Private

Operating status

Operating

Short description

Hawala Technologies, Inc. is a MENA-focused fintech that provides a mobile wallet with USD and EUR accounts, a global Visa debit card, and low-cost cross-border money transfers via stablecoin rails, serving freelancers, families, students, and SMEs across the region.

Ownership category

akta.pro rank

Product category

Cross-Border Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

International / Multi-Currency Wallets (FSAMAEAL), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Cross-border payments
• Multi-currency wallet
• Digital remittance services
• Visa debit card
• Stablecoin payment rails

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. International Money Transfer Fees: Hawala charges transfer fees for sending money internationally and domestically. The platform uses the mid-market exchange rate and adds a small margin disclosed as part of the fee. Withdrawal fees apply (e.g., $1.00 per withdrawal to local banks as shown in UI).
2. Currency Conversion and Exchange Rate Margins: Hawala earns revenue on currency exchange by incorporating a small margin into the exchange rate. The rate incorporates conversion from fiat to stablecoin and back, managed via liquidity providers.
3. International Card Transaction Fees: The Hawala Spend Card charges Foreign Exchange Fees (up to 3%) and Cross Border Fees (up to 3%) on non-USD transactions. The US Credit Card charges a 1% international transaction fee on transactions in USD.
4. Card and Account Fees: Late payment fees (up to $40), returned payment fees (up to $29), and account maintenance fees in certain jurisdictions. No annual fees for the US card.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hawala Inc. provides a multi-currency digital wallet offering real USD and EUR accounts, a Visa-branded debit card (virtual and physical), and cross-border payment services through iOS and Android apps. Funds are settled across borders using stablecoin rails on Ethereum, Polygon, Optimism, and Arbitrum, with local-currency cash withdrawals available through partner agents in 40+ markets. The product is targeted at freelancers, digital nomads, families, students, and businesses needing fast, low-cost international transfers without requiring U.S. residency or a Social Security Number.

Product overview

Hawala is a financial technology company offering a unified mobile banking platform for the MENA region. The core product is the Hawala App, which combines multi-currency accounts (USD and EUR with real bank details), a Visa debit card (with virtual and physical options), international money transfer services, and a digital wallet. Users can receive international payments, send money globally, and spend with the card worldwide. The platform uses stablecoin rails for cross-border settlement. Business accounts are available for enterprise users. Local currency cashouts are supported in 40+ markets through a partner agent network.

Differentiator

Problem solved

Functional benefit

Products and services

• Hawala Multi-Currency Wallet A multi-currency digital wallet that provides users with real USD and EUR accounts, accessible without a U.S. SSN or local residency. It supports cross-border transfers, foreign exchange, and balance management via the Hawala iOS and Android mobile apps. Targeted at freelancers, digital nomads, families, students, and MENA-region consumers and businesses.
• Hawala Visa Debit Card A Visa-branded debit card available in virtual and physical form, issued through Third National and accepted globally via the Visa network. The card offers 1.5% cashback on spending, supports Apple Pay and Google Pay tokenized payments, and draws from the user's Hawala multi-currency wallet balances.
• Hawala Cross-Border Transfers A cross-border payment service that uses stablecoin settlement rails on Ethereum, Polygon, Optimism, and Arbitrum to move funds quickly between users in different countries. Designed for freelancers, digital nomads, families sending remittances, students, and businesses needing fast international transfers.
• Hawala Local Cash Withdrawal A cash withdrawal service that allows Hawala users to receive funds in local currency through partner agents in 40+ markets, including through BANEX Microfinance Bank in Nigeria. Targeted at recipients of remittances who prefer or require cash pickup.
• Hawala Business A business-focused offering of Hawala's cross-border payment and multi-currency banking capabilities, targeted at small and medium businesses in the MENA region needing cross-border B2B payments, USD/EUR business accounts, and corporate card spending.
• Hawala Mobile App The native iOS and Android mobile application through which users access the Hawala multi-currency wallet, manage their Visa debit card, initiate cross-border transfers, and view transaction history. It serves as the primary customer interface and distribution channel for the platform.

Quantifiable outcome

• Money transfers complete in minutes rather than days
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and regional.

• Third National (Issuer)coreTechnology or IntegrationThird National is the card issuer for Hawala's Visa card program (both US Credit Card and International Spend Card). It is a licensed financial institution responsible for card funding, compliance, and regulatory obligations. Contact: +1-213-528-5887.
• Westmark Federal BankcoreTechnology or IntegrationWestmark Federal Bank provides USD account and ACH routing number services for Hawala users. Address: 488 Madison Avenue, New York, NY 10022, US. Routing number: 084306127.
• Lumino Payments Malta LtdcoreTechnology or IntegrationLumino Payments Malta Ltd provides EUR IBAN account services for Hawala users. Address: 22 Tigne Seafront, Sliema, SLM 3010, Malta. IBAN: MT84 LUMO 1200 5000 0000 0000 4917 823. BIC/SWIFT: LUMOMTM1XXX.
• BANEX Microfinance Bank Limited (Nigeria)regionalTechnology or IntegrationBANEX Microfinance Bank Limited is a financial institution licensed by the Central Bank of Nigeria (CBN) that markets the Hawala card to Nigerian users and ensures regulatory compliance with CBN requirements, including data protection under the Nigeria Data Protection Act.
• VisacoreTechnology or IntegrationHawala's card program runs on the Visa payment network under license. The card is issued by a licensed partner and benefits from Visa's global security and fraud protection infrastructure. Accepted in 170+ countries worldwide.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Western Union: Global incumbent in cross-border remittances with deep agent network in MENA. Competes with Hawala on the cash-pickup use case but lacks a modern multi-currency wallet/card offering.
• N26: European digital bank with multi-currency accounts, debit card, and international transfers. Comparable product surface but lacks Hawala's MENA corridor focus and stablecoin-rail architecture.
• Revolut: Multi-currency digital account and card with international transfers. Serves similar digital-nomad and freelancer personas globally; differs in geographic focus (Europe-first vs. MENA-first) and regulatory depth.

Regional players

• Careem Pay: MENA super-app with embedded payments and card services. Competes in Hawala's primary geography with established user distribution across Egypt, UAE, and Saudi Arabia.
• Fawry: Egyptian digital payments leader with bill payments, prepaid cards, and a wide merchant network. Overlaps with Hawala on Egypt payments and card distribution; less overlap on cross-border USD/EUR accounts.

Emerging players

• Wirex: Crypto-backed multi-currency wallet and Visa card offering spend, send, and exchange with stablecoin rails. Comparable to Hawala on the stablecoin-settlement architecture and card product.

Direct peers

• Payoneer: Provides freelancers and SMBs with multi-currency receiving accounts (USD/EUR/GBP) and cross-border payouts, with debit card for global spending. Closely matches Hawala's freelancer use case shown in product screenshots (Toptal/Fiverr inflows).
• Wise (formerly TransferWise): Multi-currency account provider offering real local bank details in 40+ currencies, paired with a debit card and low-cost cross-border transfers. Most direct comparable to Hawala on multi-currency accounts and cross-border payments.
• TerraPay: Cross-border payments network focused on emerging markets with local payout rails. Comparable on emerging-market money-movement infrastructure and partner-agent distribution model.
• Remitly: Cross-border remittance platform serving corridors from the US/UK/EU to emerging markets including MENA (Egypt, Morocco). Comparable on the money-transfer-from-diaspora use case and digital-first onboarding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/usehawala

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hawala Inc.