Fintech Sector in Saudi Arabia

The rise in digital literacy also shows the way for significant growth of the fintech sector in Saudi Arabia. At Company Setup Saudi Arabia, experts can help with the latest financial solutions for budding and experienced entrepreneurs. User preferences are changing with the increasing influence of smartphones and the use of digital platforms.

Riyadh is gaining prominence as a leader in the fintech industry due to its significant focus and growth in global positioning, innovation, and excellent talent development. In the Saudi fintech sector, proper talent acquisition has been challenging. There are initiatives to train young professionals so that they can effectively help in developing fintech prototypes and lead to innovative solutions and development in the market.

Saudi Fintech Landscape: Key Insights and Market Trends

The trends and insights to bring in a significant change in the fintech sector in KSA, Saudi Arabia are:

Growth in the Fintech Sector – Almost 200 fintech firms have been set in Saudi Arabia in recent times, with an expected increase in the coming years
Investments – There is a surge in investments in Saudi’s fintech startups, increasing from $200 million during 2020 to almost $704 million in 2023
Source of Revenue – The sector is advancing and is capable of generating a high rate of revenue

Experts at Company Setup Saudi Arabia focus on every aspect of achieving growth in the Saudi fintech industry. Our team has in-depth knowledge of the ongoing insights and trends that can help entrepreneurs plan suitable strategies. Book a consultation with us to allow us to help scale up and boost your position in Saudi’s fintech industry.

Top 5 fintech companies in Saudi

The top and notable companies in the fintech industry in KSA, Saudi Arabia that can help budding entrepreneurs find better opportunities are:

Tamara

It allows the instant purchase and paying later facility for the customers in instalments. Good connections with top partners in Saudi Arabia can help budding entrepreneurs explore and excel.

PayTabs Group

It is a B2B payment solution provider that helps businesses find more avenues to try new opportunities in and around Riyadh, Saudi Arabia.

Lean Technologies

It is an advanced banking platform that connects companies to users’ accounts. With its expansion in and around KSA, Saudi Arabia, it can deliver promising customer assistance.

HyperPay

It is an e-commerce payment service provider catering to merchants with hassle-free services.

Hala

It supports SMEs to digitise payment systems for seamless business operations.

So, the service offered by the companies can ensure that entrepreneurs can make the most of this lucrative market and move beyond the local borders. Connect with our team now who can show the right strategies to outshine others in the Saudi market.