Evolution of Saudi Arabian Fintech Companies, Assets, and Revenue (2018-2022)
12 September 2023•
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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's GDP, after a cumulative VC investment of $3.25 billion USD.
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