Fintech Universe: Actively Operating Fintechs in Saudi Arabia
16 June 2022•
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From the onset of monitoring fintech activity in the Kingdom in 2018, actively operating fintechs in the Kingdom (which includes fintechs with a standard trade license, fintech license or a testing license) has increased from 10 players in 2018 to 82 players by the end of July 2021, which is a cumulative annual growth rate of 102%.
Replicating the growth of Fintech in global markets, the largest and most crowded fintech segment is Digital Payments & Currency Exchanges, comprising over onethird (35%) of all fintech players in the market; since 2018, this segment has a cumulative annual growth rate of 60%.
The next largest fintech segments are Business Tools & Data Aggregators and Lending & Finance, with 15 and 14 fintech players in each of these categories respectively.
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