According to the Fintech Saudi Annual Report 2021/2022, the number of active fintech companies in Saudi Arabia increased by 79%, and investment in Saudi fintech companies for the year exceeded SAR 1.50 billion ($400 million), as reported by Zawya.
“This year has been a significant year for the development of the fintech industry in the Kingdom with the launch of the Fintech Strategy, which will drive Saudi Arabia to become a global fintech hub,” said Nezar Alhaidar, Director of Fintech Saudi, a catalyst for the development of the fintech industry in Saudi Arabia. We are pleased that we are on track to meet this goal, with 147 fintechs now operating in the Kingdom.”
