An ultimate guide to fintech in the Kingdom of Saudi Arabia

Saudi Arabia

The Saudi fintech sector generated a total revenue of SAR 2.8 billion (equivalent to $747 million USD) in 2022, up from SAR 2 billion ($533 million USD equivalent) in 2021, and held total assets of SAR 6.8 billion ($1.81 billion USD equivalent), a slight increase from SAR 6.5 billion ($1.73 million USD equivalent) the previous year. Furthermore, the fintech sector now employs 2,858 professionals.

By 2030, the Kingdom has pledged to create 18,000 fintech jobs in the country, by being home to 525 fintech companies, which is expected to directly contribute $3.55 billion USD to Saudi&#39;s GDP, after a cumulative VC investment of $3.25 billion USD.

Saudi Arabia's Growing Number of Fintech Companies, and their Assets & Revenue

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M&amp;A Activity based on the number&nbsp;of transactions&nbsp;is split 40% GCC and 60% non-GCC&nbsp;countries.

The past five years has witnessed 1,173 M&amp;A transactions in&nbsp;the GCC, while 1,738 transactions occurred outside the GCC region in other&nbsp;parts of the Middle East.

GCC M&A Activity: Split of Transactions by GCC Countries Over the Past Five Years

GCC M&A Activity: Split of Transactions by GCC Countries

The&nbsp;Doing Business score is a valuable tool for comparing and evaluating the regulatory performance of different economies.

It provides a standardized measure that allows for easy comparison and benchmarking across countries.

By examining the ease of doing business rankings, policymakers and investors can gain insights into the overall business environment and identify areas for improvement.

This information can be crucial for attracting investment, fostering economic growth, and promoting entrepreneurship.

Evolution of Saudi Arabian Fintech Companies, Assets, and Revenue (2018-2022)

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