79% increase in Saudi fintech companies in past year
Saudi Fintech
Latest in Saudi Fintech
accelerator programme
Fintech Saudi’s second accelerator programme sees participation of 12 startups
The three winning startups at this year’s programme were awarded a financial grant of SAR 50,000 each by Saudi Aramco Entrepreneurship Center
Buy now Pay later
Saudi-based BNPL startup Tamara expands operations to UAE
The buy-now-pay-later company said it already has Namshi, SHEIN and Swarovski on board and hopes to sign up hundreds more merchants in the coming months
Brand View
Saudi fintech firm Geidea partners with Magnati to bring payment solutions offering into the UAE
Geidea’s expansion into the UAE follows its launch into the Egyptian market in June 2021
e-wallet
Saudi’s central bank grants licences to three fintech SMEs, including Mobily Pay
Debt-based crowdfunding Lendo and consumer microfinancing Finzey were also awarded licenses by SAMA as the kingdom strengthens its finance and payment processing sectors
business funding
Sequoia picks Saudi fintech for first Gulf deal as foray expands
Created in 2019, Lean says it’s amassed dozens of major clients and has offices in Riyadh, Abu Dhabi, Dubai, Cairo and London
financial technology
Saudi Arabia sees $347m fintech investments as sector continues to boom
Fintech Saudi Annual Report says the number of fintech companies has grown by more than a third over the past year
fintech startups
Saudi Riyadh Angel Investors in talks to finalise two start-up investment deals
The new talks come on the heels of RAI closing an investment agreement with Saudi fintech start-up Wafeer
digital payments
Checkout.com leads $110 million round for Saudi fintech Tamara
Proceeds of the Series A capital raise, which includes both equity and debt, will be used to bankroll Tamara’s expansion across the Gulf markets by the end of this year and then the rest of the Middle East
Apple Pay
Cash is still king in Saudi Arabia, despite fintech growth
Non-cash transactions accounted for less than a fifth in Saudi Arabia in 2016 – well shy of the ratio of 28% target for next year
Ayman Sejiny
Saudi Arabia’s ICD to introduce blockchain-based Islamic banking solutions
Islamic Corporation for the Development of the Private Sector’s agreement with Tunisia-based I-FinTech Solutions will focus on developing products designed to solve liquidity issues
blockchain technology
Saudi awards first two fintech licences
The move is expected to broaden Saudi’s capital markets, boost start up funding and create more jobs
Asset Management
Gulf Capital acquires stake in Saudi fintech firm
Gulf Capital has acquired a $266.6m stake in Saudi Geidea
