Forbes Middle East has unveiled its annual Fintech 50 list, recognising the region’s leading innovators in digital financial services as they adapt to evolving consumer expectations in an increasingly digital landscape.

The ranked companies have collectively processed over US$240 billion in transactions and secured more than US$3.8 billion in total funding.

The ranking was determined based on external investment, total transaction volume, app downloads, active users, consumer impact, geographic footprint, and achievements in innovation, growth, and expansion over the past year.

Fintech entities affiliated with exchange houses, traditional banks, or government institutions were not considered.

After securing US$160 million in a Series E funding round in February 2025, Saudi-based fintech giant Tabby propelled its valuation to US$3.3 billion, making it the region’s most valuable fintech startup and earning it the top spot in the 2025 Fintech 50 ranking.

Egyptian e-payments pioneer Fawry claims second place, backed by its 53.1 million-strong customer base.

Saudi Arabia’s insurtech and banking solutions firm Rasan follows in third, having gone public on the Saudi Exchange (Tadawul) in 2024, with a market cap of nearly US$1.9 billion as of 20 February 2025.

The 2025 list features companies from 11 countries and introduces 12 new entrants, including digital asset platform CoinMENA, UAE-based Ziina, and Egypt’s Sahl.

The UAE leads the ranking with 13 fintech firms, followed by Egypt (12) and Saudi Arabia (10), collectively representing 70% of the list.

The Top 10 Fintechs in  Middle East