Top 10 Fintech Operating in Saudi Arabia, by Amount Fundraised (USD Mn)

The largest fundraised amount to date was by Geidea, the POS terminals and solutions market leader in Saudi, in 2018, when the Fintech player was acquired for $268 million USD by a Private Equity Fund.

In late 2020, the Kingdom’s first unicorn (a term used to describe a start-up to be valued at over $1 billion USD) was announced, when STCpay, the Kingdom’s leading digital wallet, announced that it had sold a 15% stake in the company to Western Union for a $200 million USD investment.