Over $400 million invested in Saudi fintech industry in last 12 months: report

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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.”

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Over $400 million invested in Saudi fintech industry in last 12 months: report

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.”

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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