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

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Exploring How Bank AI-Native Drives Innovation – FF News

July 1, 2025

Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.

July 1, 2025

Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

July 1, 2025

How Additiv employs AI to transform financial services

July 1, 2025
Facebook X (Twitter) Instagram
Trending
  • Exploring How Bank AI-Native Drives Innovation – FF News
  • Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.
  • Fioneer Unveils AI Agent to Revolutionize Financial Services Operations
  • How Additiv employs AI to transform financial services
  • Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik
  • The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.
  • Morgan Stanley terminates Fintech private banking activities valued at 19.1 INR
  • African fintech leaders are shaping the industry through worldwide acquisitions.
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

    June 26, 2025

    Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

    June 12, 2025

    Fintech Scotland and TSB unveil a new innovation lab initiative.

    June 3, 2025

    OECD Economic Outlook June 2025: The Fintech Executive’s Strategic Playbook

    June 2, 2025

    The impact of the fintech recruitment crisis on job seekers.

    May 28, 2025
  • AI

    Exploring How Bank AI-Native Drives Innovation – FF News

    July 1, 2025

    Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.

    July 1, 2025

    Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

    July 1, 2025

    How Additiv employs AI to transform financial services

    July 1, 2025

    The financial aspect of Newsai healthcare positively impacts income collection throughout the average income cycle, as AI enables more accurate and efficient decision-making, ensuring hospitals receive their rightful reimbursements.

    July 1, 2025
  • Acquisitions

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025
  • Trends

    Key Trends and Focus Areas in Fintech Payments for 2025

    June 22, 2025

    Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

    June 18, 2025

    Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

    June 13, 2025

    Irish fintech remains on a remarkable growth trajectory, contrary to global trends.

    June 12, 2025

    The Irish fintech sector is thriving and surpassing global trends.

    June 9, 2025
  • Insights

    Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels

    June 27, 2025

    Finance Magnates Reports: XBO Designated as Top Cryptocurrency Payment Gateway. XBO’s core principles of trust and simplicity align with cutting-edge solutions, providing customers access to an award-winning crypto payment option. 16 hours ago

    June 26, 2025

    Fintech Bank competes with HSBC and Lloyds in the current account market.

    June 24, 2025

    Netcapital’s Nasdaq acquisition of a web3-based free gaming platform without mixing code

    June 19, 2025

    Ali Kassab and Freedom PSP: Unraveling the Myths of Fintech

    June 19, 2025
  • Rumors

    The Giant Fintech Green Point Captivates Investment Capital Interest

    June 25, 2025

    Chinese Ant Group refutes speculation about a partnership with Rwa and Stablecoin.

    June 20, 2025

    Tua Tagovailoa Trade Speculation: Miami Dolphins May Pursue QB Negotiations After 2025 Season if Playoff Aspirations Fall Short | NFL News

    June 16, 2025

    Paraphrase the title from the Circle files regarding the IPO for the Bank.

    June 7, 2025

    Toncoin achieves $1 billion in trading volume as Visa executive joins and Musk speculation grows

    June 4, 2025
  • Startups

    Saurabh Dwivedi Appointed CTO of Indian Fintech Company Mobikwik

    July 1, 2025

    Morgan Stanley terminates Fintech private banking activities valued at 19.1 INR

    July 1, 2025

    Malaysia is introducing a platform for ASEAN startups to assist regional entrepreneurs.

    June 30, 2025

    The emerging phase of competition in India’s fintech sector

    June 30, 2025

    Argentinian Fintech Tapi acquires a Mastercard division in Mexico.

    June 29, 2025
  • finjobsly
fintechbits
Home » Analysis of Fintech Market Size and Share in Saudi Arabia
Industry Trends

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

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

The Covid-19 pandemic and associated health measures have significantly changed customer behavior. As people seek to reduce physical contact, the demand for contactless payment services has increased significantly in 2020. Saudi Arabia is the largest market in the GCC, with a young population of which 70% are under 30 and constitute the largest population. Despite its relative youth compared to neighboring countries such as the United Arab Emirates and Bahrain, Saudi entrepreneurship is known for its organic growth. In addition, the country is home to Riyadh, the capital and largest city that aspires to be among the top 10 economies. It is announced this year by Crown Prince Mohammed bin Salman (MBS) and Jeddah, the country’s historic commercial center.

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

Nearly a third (32%) of fintechs in the Fintech Saudi database are active in payments and foreign exchange. This is followed by lending and finance in second place (19%), personal finance/cash management in third place (12%), business tools in fourth place and private fundraising in fifth place (10%). The Saudi fintech sector has high potential, given its large market and the efforts made under Saudi Vision 2030, where fintech and broader digital transformation are being given the tools and support to implement it. 2030 includes an implementation of financial services and fintech that has fostered and enabled the sector to grow.

Fintech Market Trends in Saudi Arabia
Development of advanced technologies stimulates the market

By 2030, Saudi Arabia aims to become the country where the best of data and AI becomes reality. As part of this strategy, Saudi Arabia will implement a multi-phased and multi-faceted plan that includes skills, policy, regulation, investment, research, innovation, and ecosystem development. AI can contribute $135 billion to its GDP, or 12.4% of the national GDP.

Growing use of smartphones for digital payments drives market

By 2023, the total transaction value in the digital payments market is expected to reach USD 48.90 billion. By 2027, the total transaction value is expected to reach USD 78.40 billion, representing a CAGR of 12.53% during the forecast period. The largest segment of the market is digital commerce, with a total transaction value projected to reach USD 24.96 billion in 2023. Payments accounted for two-thirds of the market and nearly 98% of the user base. This was followed by personal finance, accounting for over 30% of the fintech transaction value. 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 includes

  • Rasanah Technologies LLC
  • OF COURSE
  • Foodique
  • Sulfa
  • Raqamyah Platform
  • Maalem Finance Company
  • Skyband
  • Saudi Fintech Company
  • Fleap
  • Tride App
  • Tamara*

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

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

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

            
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Key Trends and Focus Areas in Fintech Payments for 2025

June 22, 2025

Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

June 18, 2025

Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

June 13, 2025
Leave A Reply Cancel Reply

Latest news

Exploring How Bank AI-Native Drives Innovation – FF News

July 1, 2025

Insightsoftware introduces Justperform to France, offering AI-driven support for financing teams.

July 1, 2025

Fioneer Unveils AI Agent to Revolutionize Financial Services Operations

July 1, 2025
News
  • AI in Finance (1,315)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (871)
  • Technology Innovations (151)
  • 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 (1,315)
  • Breaking News (152)
  • Corporate Acquisitions (65)
  • Industry Trends (176)
  • Jobs Market News (290)
  • Market Insights (188)
  • Market Rumors (239)
  • Regulatory Updates (149)
  • Startup News (871)
  • Technology Innovations (151)
  • 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.