Saudi FinTech will be the next big growth story
Saudi Arabia is quickly becoming one of the most active fintech markets in the region. Under Vision 2030, the government is using fintech to modernise financial services, support small businesses, and attract investment into Saudi Arabia.
Today there are just over 20 licensed fintech companies in the Kingdom, but that number is expected to reach more than 500 by 2030. This shows how fast the sector is developing and how much confidence there is in the market.
Off the back of GITEX earlier this October, we noticed a clear trend. Many of the fintech firms we spoke with who were exhibiting in the UAE are also setting up operations or exploring opportunities in Saudi Arabia. The conversations have moved from if they should enter Saudi, to when and how quickly with some indicating the move as early as Q1 and Q2 2026.
What makes Saudi stand out is its scale. Although it a fact we often repeat, it stands. With a large, young, and digitally engaged population, there is space for hundreds of new fintech businesses. What we notice from the enquiries coming in across 2025 is a real trend in payment platforms, Buy Now Pay Later services to more recently money transfer and cybersecurity solutions. Investors see a market that is growing fast but built on strong regulation and clear policies. The move to Saudi being a strategic part of business plans rather than a knee jerk reaction to the buzz around the Kingdom.
Getting licensed by SAMA, the Saudi Central Bank, is a key step for fintechs offering financial products or payment services. SAMA oversees banking and financial stability, ensuring new investors/businesses meet standards for security, compliance, and customer protection. For foreign investors, SAMA’s licensing process not only provides credibility but also opens access to the wider financial ecosystem.
Saudi’s fintech sector is still young, but the opportunity is obvious. The combination of government backing, strong regulation, and a large customer base is creating one of the most promising fintech markets anywhere in the world.
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