Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Coinbase and Google team up to facilitate transactions using stablecoins.

September 18, 2025

Revamping the Client Challenge Title

September 18, 2025

Transforming Cross-Border Payments in Nigeria

September 18, 2025

Aleph secures 29 million dollars in Series B funding to guide and enhance its initiatives.

September 18, 2025
Facebook X (Twitter) Instagram
Trending
  • Coinbase and Google team up to facilitate transactions using stablecoins.
  • Revamping the Client Challenge Title
  • Transforming Cross-Border Payments in Nigeria
  • Aleph secures 29 million dollars in Series B funding to guide and enhance its initiatives.
  • AI financing platform Tabs secures $55 million in Series B funding.
  • Five-dollar local bags in Unleash, Unicorn India’s capital
  • Google introduces a payment protocol for AI agents in collaboration with major financial firms.
  • Rex-Osprey XRP ETF: a transformative period for fintech startups
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    AI-powered fintech job platform Finjobsly.com Launches

    September 16, 2025

    FCCPC recoups 10 billion naira for harmed customers after grievances against banks and fintech companies

    September 11, 2025

    Hyderabad Fintech Viyona secures NPCI approval to function as a third-party application provider.

    September 11, 2025

    Klarna IPO Valuation Analysis in the US Banking Sector

    September 2, 2025

    Robinhood’s IA Investing Tool Digests Launches in the UK

    August 27, 2025
  • AI

    Coinbase and Google team up to facilitate transactions using stablecoins.

    September 18, 2025

    Revamping the Client Challenge Title

    September 18, 2025

    Aleph secures 29 million dollars in Series B funding to guide and enhance its initiatives.

    September 18, 2025

    AI financing platform Tabs secures $55 million in Series B funding.

    September 17, 2025

    Google introduces a payment protocol for AI agents in collaboration with major financial firms.

    September 17, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Overview of the Size, Trends, Growth Drivers, and Key Players in India’s Fintech Sector

    September 5, 2025

    SEF – Wits Global Fintech Conference 2025 Investigates Worldwide Fintech Trends

    September 4, 2025

    The impressive results of PB Fintech underscore the contrast with overall market trends.

    September 4, 2025

    South Korea’s Fintech Market Overview, Trends, and Growth Predictions

    August 30, 2025

    Vietnam’s fintech market projected to exceed 50 billion USD by 2030.

    August 21, 2025
  • Insights

    Time for a set of reforms to enhance the fintech sector’s efficiency, inclusivity, and resilience against risks

    September 17, 2025

    A brief overview of the upcoming weekly updates in fintech

    September 12, 2025

    Kapital is the final unicorn in Mexico valued at over $1 billion.

    September 5, 2025

    Canton RestitySteve Forbes and Peter Schiff Headline New Fintech.tv Series Riding Bulls and Taming Bears Led by David Stryzewski New York, NY / Access Newswire / August 25, 2025 / Fintech.tv has unveiled the debut of Bulls and Taming Bears, a series focused on market analysis and…

    August 28, 2025

    Steve Forbes and Peter Schiff Launch New Fintech.tv Series “Conquering Market Fluctuations” by David Stryzewski – Azentral | The Republic of Arizona

    August 28, 2025
  • Rumors

    Pi Network price hits a new all-time low amid delimitation speculation on OKX and Mexc.

    September 11, 2025

    Tether’s Bitcoin Sale for Gold: CEO Paolo Ardoino Shares the Facts

    September 8, 2025

    Buffalo Sabers encouraged to trade former first-round pick Isak Rosen amid challenges

    September 7, 2025

    Wise aims to establish itself as a bank in the UK.

    September 7, 2025

    Is Trump deceased?

    September 6, 2025
  • Startups

    Transforming Cross-Border Payments in Nigeria

    September 18, 2025

    Five-dollar local bags in Unleash, Unicorn India’s capital

    September 17, 2025

    Rex-Osprey XRP ETF: a transformative period for fintech startups

    September 17, 2025

    Overcoming Regulatory Hurdles for Fintech Startups in XRP’s Journey to Independence

    September 17, 2025

    Startup Fintech Pélocaux Secures 5 Minutes of Series A Funding

    September 17, 2025
  • finjobsly
fintechbits
Home » Financial technology market size and share analysis in Saudi Arabia
Industry Trends

Financial technology market size and share analysis in Saudi Arabia

4 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
908fb457 7f8e 4a08 9081 5565e3dfb3d7.jpeg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Dublin, January 28, 2024 (GLOBE NEWSWIRE) — The “Saudi Arabia Fintech Market Size and Share Analysis – Growth Trends and Forecasts (2023 – 2028)” the report has been added to ResearchAndMarkets.com’s offer.

Saudi Arabia fintech market size is expected to grow from $39.04 million in 2023 to $69.23 million by 2028, growing at a CAGR of 12.14% during the forecast period (2023 -2028).

The Covid-19 pandemic and the corresponding health measures have enormously changed customer behavior. As people sought to have less physical contact, demand for contactless payment services increased sharply in 2020. Saudi Arabia is the largest market in the GCC, with a young population of which 70% are under 30 years old. and constitutes the largest population. Despite its relative youth compared to neighboring countries like the United Arab Emirates and Bahrain, Saudi entrepreneurship stands out for its organic growth. Additionally, the country is home to Riyadh, the capital and largest city that aspires to be among the top 10 largest economies. This is what Crown Prince Mohammed bin Salman (MBS) and Jeddah, the country’s historic commercial hub, are announcing this year.

The Saudi fintech sector is mainly led by young, first-generation entrepreneurs, competing with larger financial institutions in a competitive market. Saudi Arabia recorded 16 venture capital investments in the fintech sector between January and August 2022, with a total value of $157.2 million. This is a significant increase from 2020, with $7.8 million and seven venture investments, and from 2019 with six venture investments totaling $18 million.

Nearly a third (32%) of fintechs listed in the Fintech Saudi database are involved in payments and foreign exchange. This is followed by Lending & Finance in second place at 19%, Personal Finance/Cash Management in third place at 12%, Business Tools in fourth place and Private Fundraising in fifth place at 10%. The Saudi fintech sector has high potential, given its large market and efforts under Saudi Vision 2030, where fintech and broader digital transformation receive the appropriate tools and support for their implementation . The 2030 horizon includes the implementation of financial services and financial technologies that have enabled and enabled the sector to grow.

Financial technology market trends in Saudi Arabia
Development of advanced technologies drives the market

By 2030, Saudi Arabia’s vision is to become the place where the best of data and AI will become reality. Under this strategy, Saudi Arabia will implement a multi-phased, multi-faceted plan that includes skills, policy, regulation, investment, research, innovation and ecosystem development. AI can contribute $135 billion to the GDP, which corresponds to 12.4% of the national GDP.

Growing use of smartphones for digital payments drives the market

By 2023, the total transaction value in the digital payments market is expected to reach $48.90 billion. By 2027, the total transaction value is expected to reach $78.40 billion, representing an annual growth rate of 12.53% during the forecast period. The largest segment of the market is digital commerce, with an expected total transaction value of $24.96 billion in 2023. Payments accounted for two-thirds of the market and almost 98% of the user base. Next comes personal finance, which accounts for more than 30% of the value of fintech transactions. Smartphone payment transactions in Saudi Arabia increased by 352% to 19.7 million in April 2020, compared to just 4.4 million the previous year.

A selection of companies mentioned in this report include

  • Rasanah Technologies LLC
  • OF COURSE
  • Foodic
  • Sulfa
  • Raqamyah Platform
  • Maalem financing company
  • Heavenly Band
  • Saudi Financial Technology Company
  • Chip
  • Tride app
  • Tamara*

For more information on this report, visit https://www.researchandmarkets.com/r/asxkyu

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source of market research reports and international market data. We provide you with the latest data on international and regional markets, key industries, largest companies, new products and latest trends.

  • Fintech Market in Saudi Arabia Number of Fintech Companies by Country 2022

            
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Overview of the Size, Trends, Growth Drivers, and Key Players in India’s Fintech Sector

September 5, 2025

SEF – Wits Global Fintech Conference 2025 Investigates Worldwide Fintech Trends

September 4, 2025

The impressive results of PB Fintech underscore the contrast with overall market trends.

September 4, 2025
Leave A Reply Cancel Reply

Latest news

Coinbase and Google team up to facilitate transactions using stablecoins.

September 18, 2025

Revamping the Client Challenge Title

September 18, 2025

Transforming Cross-Border Payments in Nigeria

September 18, 2025
News
  • AI in Finance (1,625)
  • Breaking News (169)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (307)
  • Market Insights (210)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,060)
  • Technology Innovations (174)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,625)
  • Breaking News (169)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (307)
  • Market Insights (210)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,060)
  • Technology Innovations (174)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.