In a comprehensive data analysis by FinArabia, the most active investors in the FinTech sector in Saudi Arabia for 2023 have been identified based on the number of deals. The report sheds light on sector preferences, investment stage patterns, temporal trends, startup engagement, and investor uniqueness.
Here is a breakdown of the key findings:
Investors and Deals
Sanabil 500 MENA
Sectors: RNPL (Rent Now, Pay Later), SMEs Expense Card, Savings, Payment
Stages: Pre-Seed, Seed
Months: October, May, December
No. of Deals: 4
Startups: Taskheer, NQOODLET, EdfaPay, Ejari
Core Vision Investment Co.
Sectors: Blockchain, Open Finance
Stages: Pre-Seed
Months: October, July, December
No. of Deals: 3
Startups: Qannas, Takadao, Oumla
Sanabil Investments
Sectors: SMEs Debt Crowdfunding, BNPL, Payment
Stages: Series B, Series C, Series A
Months: December
No. of Deals: 3
Startups: Tamara, Lendo, NearPay
Shorooq Partners
Sectors: SMEs Debt Crowdfunding, BNPL, Payment
Stages: Series B, Series C, Pre-Seed
Months: February, December
No. of Deals: 3
Startups: Tamara, Lendo, Amwal
Vision Ventures (VV)
Sectors: Open Banking, Accounting / POS, Payment
Stages: Seed, Series A
Months: August, December
No. of Deals: 3
Startups: NearPay, Rewaa, Spare
500 Global
Sectors: Open Banking, InsurTech
Stages: Pre-Seed, Seed
Months: July, December
No. of Deals: 2
Startups: DESAISIV, Spare
Mubadala Investment Capital
Sectors: BNPL (Buy Now, Pay Later)
Stages: Series C, Series D
Months: January, October
No. of Deals: 2
Startup: Tabby
STV
Sectors: BNPL (Buy Now, Pay Later)
Stages: Series C, Series D
Months: January, October
No. of Deals: 2
Startup: Tabby
Wa’ed Ventures
Sectors: Open Banking, Undefined
Stages: Seed
Months: July, December
No. of Deals: 2
Startups: Mthmr, Spare
Saudi Arabia is home to over 200 fintech firms as of August 2023, a 300% increase in the sector from 2021. By 2030, the fintech sector targets 525 active fintech firms in the Kingdom, contributing around SR13 billion to the GDP and creating 18,000 direct jobs.