- Saudi Fintech market set to double by 2030 – but these 3 sectors will lead the charge
- By 2030, the Kingdom’s fintech market will grow from $2.85bn to $5.28bn. Payments may be the backbone, but investors say WealthTech, Insurtech, and SME lending are the true engines of disruption in the next 24–36 months.
- $80 Billion SME credit gap creates Saudi Arabia’s biggest fintech opportunity
BNPL hit SAR 26.6bn GMV in 2024 (+206% YoY), but experts say SME lending is the #1 growth area. Experts highlight AI-powered SME lending and invoice financing as the #1 growth vertical, critical to unlocking private sector expansion - Saudi digital wallets reach 21.6 Million users – but most remain underserved
With more than half the population now using wallets, fintechs have a massive low-cost channel to offer savings, insurance, and investment products — opportunities that banks have yet to fully address.
Riyadh, Saudi Arabia – Tenity, a global innovation powerhouse, today announced the release of the inaugural KSA Fintech Opportunity Report 2025. The report, in collaboration with The Majlis Podcast, provides a comprehensive, data-driven analysis of Saudi Arabia’s fintech ecosystem, drawing from proprietary research and 30 exclusive interviews with top policymakers, investors, and founders in the Kingdom, the report identifies high-potential growth areas and outlines the structural enablers that are driving transformation.
Key Findings from the Report Include:
- Unprecedented Growth: The number of active fintechs in Saudi Arabia has surged from just 10 in 2018 to over 261 by the end of 2024, surpassing its 2025 target of 230 a full year ahead of schedule.
- A New Era of Digital Payments: The Kingdom has successfully accelerated its transition to a cashless society, with non-cash retail transactions reaching 79% in 2024, exceeding the Vision 2030 target.
- Massive Financing Gaps: The report identifies a significant financing gap for SMEs and corporates, estimated at $80 billion. Fintechs are stepping in to fill this void, with the debt crowdfunding sector more than doubling its funding to SAR 3.4 billion in 2024.
- High-Potential Verticals: While payments and lending remain dominant, the report highlights WealthTech, Insurtech, and new B2B solutions as high-growth areas poised for significant disruption in the coming 24-36 months.
- A New Era of Collaboration: The report details the evolving relationship between incumbent banks and fintechs, moving from a competitive dynamic to one of strategic collaboration. Banks are increasingly establishing Corporate Venture Capital (CVC) arms and accelerator programs, while fintechs are focusing on solving high-value business problems for these established institutions.
- Emerging White Spaces: The report identifies new high-potential opportunity zones, including Corporate & B2B Solutions, PropTech & RentTech, and dedicated financial services for foreign workers, all underpinned by the imperative of Sharia compliance.
“The Kingdom is moving at remarkable speed, shaping an ecosystem where fintech can thrive at scale. With the right mix of regulation, investment, and talent, Saudi Arabia has all the ingredients to become a global fintech hub — and the momentum is only just beginning”, said Andreas Iten, CEO and Co-Founder of Tenity.
Maximilian Plank, Venture Partner at Tenity and Author, commented, “The Saudi market is a critical bridge between Asia and Europe. We are committed to building a lasting presence by fostering international collaboration and leveraging our global network to support founders and investors on the ground here in the Kingdom. This report is a testament to the powerful trajectory of Saudi Arabia’s fintech ecosystem.”
Yasmin AlKhowaiter, Founder of The Majlis Podcast and Co-Author, added, “Our collaboration provides a unique lens into the Kingdom’s economic transformation. Beyond the impressive numbers, we wanted to capture the stories and strategic insights that drive this growth. We hope this report empowers stakeholders to make informed decisions and participate in this exciting journey.”
The launch of the report reflects Tenity’s ongoing commitment to supporting innovation across the Kingdom and broader GCC region.
About Tenity
Tenity is a global innovation powerhouse shaping the future of finance and technology. With hubs in Zurich, Singapore, Tallinn, Madrid, London, and Istanbul, Tenity blends venture capital, open innovation and global ecosystem access to create value that compounds.
Through its unique hybrid model, Tenity helps ambitious founders grow, supports corporates in making innovation actionable, and gives investors early access to high-potential deal flow.
Since launch, Tenity has partnered with 65+ leading institutions, supported 1,600+ startups, and runs innovation programs in over 15 countries. Across continents and industries, Tenity connects what’s next and backs those bold enough to build it.
About The Majlis Podcast
The Majlis is the top English-language podcast on business in Saudi Arabia. Founded and hosted by Yasmin AlKhowaiter, it explores the Kingdom’s evolving economic landscape and its role on the global stage through conversations with leading public figures, academics, and creatives.