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Can Saudi Arabia become the region's fintech frontrunner?

Investasi Emas

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The growth of the fintech sector in Saudi Arabia is reflected in the investment directed towards it. In the first quarter of this year, fintech startups based in Saudi Arabia raised in excess of $127 million, a whopping jump compared to the $23 million raised by fintech startups in the country from 2015-2020. We took a look at Saudi Arabia and its vast fintech opportunity.

Mena startups raised $110 million in May 2021

Startups in Mena raised almost $110 million across 35 deals in May. While it is a marked drop when compared to April, it is still an impressive amount when compared to the monthly average raised last year.

There are a few main reasons why businesses become sustainable and succeed beyond their first year through to their fifth year. Warsha Joshi and Evan Le Clus, startup mentors and the co-founders of Dare to Scale, an ecosystem for entrepreneurs scaling their business, outline the key elements required to scale a startup.

In case you missed it - here's our round-up from News Watch:

BeyondCapital's Angel Network invests in Wafii, Palmear and Bith TV

Wa'ed invests $500,000 in Saudi drone operator FalconViz

VentureSouq participants in Lahore-based Tajir's $17 million Series A round

Pawame raises $2.5 million, prepares for $5 million Series A

Opontia raises $20 million Seed round

iSchool raises $160,000 to develop online edtech platform

OpenSooq raises $24 million for its classifieds marketplace

Boksha raises $1 million Seed investment

MoneyHash raises six-figure pre-Seed round

Red Sea Farms raises $10 million to expand across Saudi

Orange and AXA CIMA to acquire majority stake in DabaDoc

Decapolis raises $250,000 for its blockchain-powered food traceability platform

Wamda participates in Ziina's latest $7.5 million funding round

Openner invests in tejarra.com's Seed round

Logistics platform Trukkin raises $7 Million in Series A round

Hub71 and ADIO to grant 10 startups $2.7 million as part of The Outliers initiative

Do you have a story you'd like to share with us? Drop us a line.

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Can Saudi Arabia become the region's fintech frontrunner?

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