KSA Fintech Market is in its growing stage, Driven By accelerated digitalization, Government initiatives, and, High Fintech Adoption: Ken Research

Posted December 30, 2022 by kenresearchcompany

KSA Fintech Sectoris expected to grow at a CAGR of 18.5% in the forecasted period of 2023F-2027F: Ken Research
A strong indicator of growth in the fintech market is, growth in certain industry verticals like payments and currency exchange driven by an increase in digital payments in KSA and lending and finance owing to high requirement of funds in market both for personal and business use.

Covid Led Growth: The accelerated digitalization as a result of the COVID-19 pandemic has led to a surge in demand for fintech solutions and subsequent growth in both their market share and enterprise value. In particular, the pandemic has resulted in a growth in demand for easier-to-use financial tools in areas such as buy-now, pay later and investment brokering solutions.

Rising Government Support: Government initiatives including the easing of foreign direct investment regulations and the launch of Saudi Venture Capital Company and Jada Fund of Funds has increased venture capital liquidity in the Kingdom.

Fund Allocation by Investment Community: SAMA’s Regulatory Sandbox and CMA’s FinTech Lab and the release of regulations for a number of different fintech activities has proved the investment community with the confidence and clarity to allocate more funds towards fintech companies. 

Highest Levels of Fintech Adoption: Saudi Arabia has one of the highest levels of fintech adoption in the region. In a recent announcement by SAMA, Saudi Arabia was shown to have the highest adoption of NFC contactless payments in MENA.  As per Fintech Saudi’s National Fintech Adoption Survey, 74% of individuals have had experience in using at least one fintech solution.  With a population of nearly 35m people and a high rate of fintech adoption, fintech companies have a significant runway for growth which contributes to the attraction of the sector for venture capital investors. 

Access to Customers: It is difficult for FinTech’s to gain access to customers and conduct customer testing. Thus, it becomes important to take steps regarding financial literacy and inclusion in the KSA. The launch of Open Banking will in this aspect as it will drive healthy competition in the market allowing firms to compete at much lower prices leading to higher customer satisfaction. As such, these services will be available to a wide range of customers enhancing the financial inclusion in KSA. 

Analysts at Ken Research in their latest publication- “KSA Fintech Market Outlook to 2027- Driven by the government regulations and initiatives and the growing adoption of technology among the residents” by Ken Research provides a comprehensive analysis of the potential of the fintech market in KSA. Rising Investment Activity and Increasing Convergence in The Fintech Industry are expected to contribute to the market growth over the forecast period. KSA Fintech Market is expected to grow at a robust CAGR over the forecasted period 2022P-2027F.

Key Segments Covered

Segmentation by service vertical:
Payments and Currency Exchange
Lending and Finance
Business tools
Personal financing
Private fundraising
Capital market
Segmentation by Region:
Segmentation by Investment Stage:
Series A
Series B and above
Early (Pre-seed, Seed)
Segmentation by Company Stage:
Testing License
Idea stage

Key Target Audience

Banks and Financial Institutions
Cash Reconciliation Companies
Payment Aggregators
Payment Network Companies
Payment Interface Companies
M-Wallet Companies
Young First-Generation Entrepreneurs
Payment Gateway Companies
PoS Terminal Companies
M-PoS Terminal Companies

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Time Period Captured in the Report:

Historical Period: 2017-2022P
Base Year: 2022P
Forecast Period: 2023F–2027F

Companies Covered:

Payments and Currency Exchange-

stc pay
neo leap
noon payments

Lending and finances-


Private Fundraising-


Business Tools & Information Provision­-


Learn more about to report @ https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/ksa-fintech-market-outlook-to-2027/596214-93.html

Payment System Operators –

Apple pay
American Express
Google pay

Key Topics Covered in the Report

Executive Summary
Global Fintech Market Overview
MENA Fintech Market Overview
Overview of KSA Fintech Industry (Number of Fintechs and Fintech Ecosystem Enterprise Value, 2022)
Market Size of KSA Fintech Market on the basis of GTV and Volume of Transactions, 2022
Market Size of different Service Verticals of KSA Fintech Market on the basis of Volume of Transactions, 2022
Market Segmentation (by service vertical, by region, by Company Stage and Investment Stage)
Industry analysis
SWOT Analysis of KSA Fintech Market
Growth Drivers of KSA Fintech Market
Trends and Developments in KSA Fintech Market
Value Chain Analysis
Market Segmentations; Competition; Future Market Size, 2027)
Competition Landscspe
Future Trends and the Way Forward
Analyst Recommendations
Case study
Covid impact
Research methodology                                                                                                                     

For more information on the research report, refer to below link:


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Last Updated December 30, 2022