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Credit Facilities Offered to SMEs (Billion USD) in 2018 - Q1 2021
Saudi Venture Capital funding grew 65% year-on-year to reach a record amount of SAR 650 million (equivalent to US $173 million) in the first half of 2021; this accounted for 14% of VC funding across the whole of the Middle East and North Africa region (according to MAGNitt). Fintech funding accounted for almost a quarter of all transactions, showing a growth of 1700% more capital year-on-year. In the same period, e-commerce funding declined by 54% in the Kingdom.
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