New Ventures, SC Ventures and LuLu Financial Services Launch HAL Platform to Support UAE SMEs
New Ventures, the venture-building arm of UAE-based Mashreq, has announced the launch of HAL, a digital business-to-business platform in the UAE, established through a joint venture with SC Ventures, part of Standard Chartered Group, and LuLu Financial Services.
The platform is designed to support the growth of small and medium-sized enterprises (SMEs) by bringing together financial services, technology and logistics solutions within an integrated business environment. The model aims to simplify commercial operations and provide SMEs with services aligned with their business requirements through a unified platform.
Mashreq is participating as HAL's banking partner, drawing on its capabilities in business banking, digital financing and open banking to deliver financial services tailored to SME needs and embedded directly into their commercial activities and transaction journeys.
Microsoft, Visa, Aramex and Beehive Join HAL's Partner Network
HAL's strategic partner network includes Microsoft, Visa, Aramex and fintech financing company Beehive.
The collaboration brings together expertise across financial services, technology and logistics, with the aim of creating a more connected ecosystem for SMEs operating in the UAE market.
An Integrated Model for SME Business Services
The launch reflects New Ventures' approach to building new businesses by combining the capabilities of institutions and partners across complementary sectors. Rather than offering isolated services, the initiative focuses on developing solutions around practical market requirements.
By integrating banking, financing, commercial and logistics services into one digital environment, HAL aims to improve coordination across SMEs' day-to-day operations and make essential services more accessible throughout their business activities.
The platform's introduction comes amid growing efforts to expand digital and financial solutions for SMEs in the UAE, using an integrated model that connects multiple services within a single business journey.