By Lucidity Insights Research Team • October 20, 2022
Saudi's youthful population is a tech savvy one
Saudi’s youthful population is also incredibly tech savvy, with 97% of all Saudis between the ages of 18 and 75 owning a smart phone; and with one in five Saudis owning 2 mobile phone subscriptions.
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An ultimate guide to fintech in the Kingdom of Saudi Arabia
A comprehensive overview of the Kingdom’s fintech journey to date & the current opportunities & challenges.
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The UAE, Israel and Qatar enjoy political stability, economic prosperity, and social cohesions that rank these states as safer and more secure than the United States on the Fragile States Index.
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Egypt, Iran and Algeria are MENA's most populous countries, with a combined population of 230 million.
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Fintech adoption around the world has been consistently doubling every two years since 2015, with emerging markets leading the way.
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Emerging Markets have been dominating in terms of global fintech adoption, whereas only 3 developed markets are in the top 10
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At the end of 2020, there were a total of 87 fintech unicorns globally. 2021 was a fintech breakout year, minting 119 fintechs in the first 9 months of 2021 alone.
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Fintechs globally raised $131.5B USD of capital in a single year, posting nearly 150% growth since the last record-high year of 2018.
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All four quarters beating any previous years’ quarterly fundraising results and with Q4 being the largest quarter ever reaching $37.8 billion.
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Digital Lending was the fastest growing vertical in fintech fundraising. All except two verticals reached triple digit growth that year.
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Digital Payments and Currency Exchanges fundraised the most in Saudi Arabia
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The two largest fundraising segments in Saudi Arabia by funding stage was Sale/Exit, followed by Corporate Round and Series A financing.
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