About FinTech sector in Saudi Arabia
The FinTech sector in Saudi Arabia comprises 332 companies, including 89 funded companies having collectively raised $7.43B in venture capital money and private equity. Out of these, 34 are Series A+ funded, and 3 have achieved unicorn status.
FinTech sector in Saudi Arabia has seen 5 acquisitions and 7 IPOs.
This sector includes companies offering tech-enabled financial services and IT infrastructure and software for offering and managing financial services.
FinTech sector is also known as BFSI Tech.
Companies providing tech solutions to provide financial services like lending, banking, fundraising, insurance, etc are included in this sector. Companies offering traditional financial services like Banks, NBFCs, Insurance Carriers, etc are excluded.
Top FinTech Companies in Saudi Arabia
There are 332 FinTech startups in Saudi Arabia which include Tabby, HyperPay, Lendo, Hala, Tamara. Out of these, 89 startups are funded, with 34 having secured Series A+ funding, and 3 achieving unicorn status.
Over the past 10 years, an average of 25 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Stanford University, Carnegie Mellon University and Harvard University.
Here is the list of top FinTech startups in Saudi Arabia
1. Tabby
Provider of purchase financing solutions for businesses. The platform enables users to purchase from multiple online stores and allows to repay the amount in equal installments. It offers a credit card offering buy now pay later loans with installment-based repayment options. It allows users to split purchases into four interest-free payments, both online and in-store. The platform also offers shopping assistant that lets users discover and track products, brands and deals in the application.
Key facts about Tabby
- Founded Year: 2019
- Location: Dubai (United Arab Emirates)
- Stage: Series E
- Total Funding till date: $604M
- Investors: STV, Peak XV Partners and 28 Others
- Latest Funding Round: Series E, Feb 12, 2025, $*****
- Tracxn Score: 83/100 What is this?
- Competitors Rank: 1 of 20 Competitors
2. HyperPay
Provider of payment solutions and financial services for businesses. It provides solution such as international payments, checkout, bill payments, payout, and more . The service also includes analytics with payment transactions, multi-currency payment options, and more.
Key facts about HyperPay
- Founded Year: 2014
- Location: Riyadh (Saudi Arabia)
- Stage: Series B
- Total Funding till date: $36.7M
- Investors: Mastercard, Mad'a Investment and 7 Others
- Latest Funding Round: Series B, May 26, 2022, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 3 of 32 Competitors
3. Lendo
Online platform for invoice financing. It offers a P2P marketplace that connects businesses and investors for financing unpaid invoices. Businesses can register and upload the invoices, the request is sent to multiple investors. Once approved, the funds are transferred to the registered bank account. It features real-time alerts on bankable investments to investors.
Key facts about Lendo
- Founded Year: 2019
- Location: Riyadh (Saudi Arabia)
- Stage: Series B
- Total Funding till date: $35.2M
- Investors: Sanabil, Impact46 and 7 Others
- Latest Funding Round: Conventional Debt, Jan 30, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 1 of 8 Competitors
4. Hala
Halalah is an app-based wallet for consumers and business payments. It features a mobile payment platform for consumers & businesses to offer services such as deposit accounts, online/offline payment, money transfers, mobile recharge, and more. It also offers a marketplace to users for purchasing vouchers and digital products. It can be accessed through the app that is available on iOS and Android devices.
Key facts about Hala
- Founded Year: 2018
- Location: Riyadh (Saudi Arabia)
- Stage: Series B
- Total Funding till date: $168M
- Investors: TPG, Sanabil and 20 Others
- Latest Funding Round: Series B, Sep 15, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 24 of 2,437 Competitors
5. Tamara
Provider of buy-now-pay-later payment solutions. It allows shoppers to split purchases into installments, offering flexible payment options at various retail locations. The service is designed to be simple and secure, with a focus on Sharia compliance. It facilitates transactions both online and in physical stores.
Key facts about Tamara
- Founded Year: 2020
- Location: Riyadh (Saudi Arabia)
- Stage: Series C
- Total Funding till date: $556M
- Investors: Sanabil, Impact46 and 15 Others
- Latest Funding Round: Conventional Debt, Sep 15, 2025, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 1 of 9 Competitors
Companies founded year-on-year in the FinTech sector in Saudi Arabia
54 FinTech startups in Saudi Arabia were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | 4 |
2024 | 17 |
2023 | 24 |
2022 | 38 |
2021 | 46 |
2020 | 54 |
2019 | 30 |
2018 | 28 |
2017 | 9 |
Stage-wise distribution of FinTech sector companies in Saudi Arabia
Out of the total 332 FinTech companies in Saudi Arabia, 89 have secured funding. Among them, 34 have reached Series A or higher, and 22 to Series B or beyond.
Founded - 332
Funded - 89
Series A+ - 34
Series B+ - 22
Series C+ - 16
Company Stage | No. of companies |
|---|---|
Founded | 332 |
Funded | 89 |
Series A+ | 34 |
Series B+ | 22 |
Series C+ | 16 |
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Funding Trends in the FinTech sector in Saudi Arabia
Total funding year-on-year in the FinTech sector in Saudi Arabia
The FinTech sector in Saudi Arabia saw a total funding of more than $7.43B in the last 10 years. The most amount of funding was in 2025 at more than $3.79B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $3.79B |
2024 | $146M |
2023 | $2.19B |
2022 | $501M |
2021 | $292M |
2020 | $238M |
2019 | $2M |
2018 | $266M |
Recent Funding Rounds in FinTech in Saudi Arabia
In the year 2025, till November 2025, FinTech companies in Saudi Arabia have raised $477M in equity funding across 22 rounds.
In the same period last year (i.e. till November 2024), FinTech companies in Saudi Arabia had raised $146M across 13 rounds.
So, 2025 has seen a 226.61% rise in funding in FinTech companies in Saudi Arabia as compared to 2024.
Here are some recent, important funding rounds in FinTech companies in Saudi Arabia:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 7119 | Nov 16, 2025 | ||
Seed | 3330 | Oct 28, 2025 | - | |
Series A | 4801 | Oct 22, 2025 | ||
Seed | 9891 | Sep 25, 2025 | ||
Seed | 5043 | Sep 25, 2025 |
Top Investors in FinTech in Saudi Arabia
SoftBank Vision Fund is the top investor in FinTech companies in Saudi Arabia based on number of companies invested.
Here are some top investors in FinTech companies in Saudi Arabia:
Investor | Location | Top Portfolio Companies |
|---|---|---|
London (United Kingdom) | - | |
New York City (United States) | - | |
Dubai (United Arab Emirates) | ||
Riyadh (Saudi Arabia) | ||
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M&A activity in FinTech sector in Saudi Arabia
In the year 2025, till February 2025, 1 acquisition happened in FinTech sector in Saudi Arabia. Last year, in 2024, a total of 2 acquisitions happened in FinTech sector in Saudi Arabia.
Here are some recent, important acquisitions in FinTech sector in Saudi Arabia:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Feb 11, 2025 | ||
Business Acquisition | Oct 08, 2024 | ||
Business Acquisition | Sep 03, 2024 | ||
Business Acquisition | Nov 02, 2022 | ||
Acqui-Hired | Dec 08, 2020 |
Acquisition trends in FinTech sector in Saudi Arabia
Here are the acquisition trends in FinTech sector in Saudi Arabia:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | 2 |
2023 | - |
2022 | 1 |
2021 | - |
2020 | 1 |
2019 | - |
2018 | - |
2017 | - |
IPOs in FinTech in Saudi Arabia
In the year 2025, till March 2025, 1 IPO happened in FinTech sector in Saudi Arabia.
Here are some recent, important IPOs in FinTech sector in Saudi Arabia:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Mar 10, 2025 | Saudi Stock Exchange (TADAWUL) | |
Jun 13, 2024 | Saudi Stock Exchange (TADAWUL) | |
Mar 02, 2023 | Saudi Stock Exchange (TADAWUL) | |
Jul 13, 2009 | Saudi Stock Exchange (TADAWUL) | |
May 05, 2007 | Saudi Stock Exchange (TADAWUL) |
Colleges which produce the most FinTech companies in Saudi Arabia
Companies founded by alumni from top colleges in the FinTech in Saudi Arabia
Most number of FinTech startups in Saudi Arabia have been founded by alumni from Stanford University, Carnegie Mellon University and Harvard University.
College | No. of companies |
|---|---|
Stanford University | 4 |
Carnegie Mellon University | 2 |
Harvard University | 2 |
University of Warwick | 2 |
Warwick Business School | 2 |
Duke University | 1 |
HEC Paris | 1 |
Harvard Business School | 1 |
INSEAD | 1 |
MIT Sloan School of Management | 1 |
Total funding in FinTech companies founded by alumni from top colleges in Saudi Arabia
In the last 10 years, Harvard University graduates' FinTech companies in Saudi Arabia have raised the most funding among top colleges. Harvard Business School alumni are second, and Duke University alumni are third.
College | Total Funding |
|---|---|
Harvard University | $1.86B |
Harvard Business School | $1.85B |
Duke University | $725M |
HEC Paris | $177M |
University of Manchester | $168M |
Stanford University | $117M |
Carnegie Mellon University | $10M |
Massachusetts Institute of Technology | $10M |
University of Warwick | $2.3M |
Warwick Business School | $2.3M |
Top News in FinTech in Saudi Arabia
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Nayla Finance Breaks Barriers for Saudi Micro-businesses With Digital-First ModelInternational Finance•Oct 27, 2025•Nayla Finance, Sanabil
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Saudi fintech erad secures $33 mn debt to tackle GCC’s $250 bn SME credit gapSalaam Gateway•Sep 25, 2025•Stride Ventures, Erad
•
Financial Platform Moola and Alpaca Partner to Make Investing More AccessibleCrowdfund Insider•Aug 11, 2025•Moola, Alpaca Securities
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MoneyGram Partners with tiqmo to Expand Digital Payment Services in Saudi ArabiaFintech Finance•Jun 12, 2025•MoneyGram, Tiqmo
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Western Union Appoints Vince Tallent to Head Asia Pacific GrowthGlobal FinTech Series•Jun 09, 2025•Western Union, Tiqmo
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Ottu and HyperPay Partner to Revolutionize MENA Digital PaymentsAfrica Business Communities•Apr 25, 2025•Ottu, HyperPay
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HyperPay Introduces Tap-on-Phone Payment Solution for UAE BusinessesCairoScene•Mar 17, 2025•HyperPay
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Checkout.com and Tabby Partner to Expand BNPL Solutions for Retailers in the UAE and Saudi ArabiaFintech Finance•Mar 17, 2025•Checkout, Tabby
