Saudi Arabia is emerging as a fintech leader in the Middle East and North Africa (MENA), nurturing a significant number of the region’s fintech champions.

A recent study by Agrippa and Company, a Paris-based strategic advisory firm specializing in the European and the Middle Eastern regions, reveals that out of the 20 most valuable fintech companies in MENA, 11 are headquartered in Saudi Arabia. This demonstrates how Saudi Arabia is drawing in and developing top-tier fintech talent across the region.

11 Fintech Champions of Saudi Arabia:

These companies are:

• Tabby, a buy now, pay later (BNPL) company originally founded in the United Arab Emirates (UAE) but headquartered in Saudi Arabia. It allows consumers to split retail, travel, and lifestyle purchases into interest-free installments or deferred payments without any late fees;
• Rasan, a fintech and insurtech holding company that offers an online insurance aggregator, a business-to-business (B2B) insurtech platform, an online auction platform for salvaged and repossessed vehicles, and more;
• STC Bank, a fully licensed digital bank that evolved from stc pay, a prominent digital wallet created by the Saudi Telecom Company (stc Group);
• Tamara, a BNPL services provider that allows consumers to split purchases;
• Hala, an all-in-one business platform for small and medium-sized enterprises (SMEs) and freelancers. It offers business accounts, payment terminals, and financial services;
• Geidea, a payment and business solutions provider offering digital payment systems, point-of-sale (POS) terminals, and e-commerce payment gateways;
• Foodics, a restaurant operations and paytech company providing an all-in-one, cloud-based POS and restaurant management system tailored for the food and beverage (F&B) and retail sectors;
• Lean Technologies, a financial infrastructure provider that builds API platforms enabling developers and businesses to connect to customer bank accounts, execute account-to-account (A2A) payments, and access open banking data;
• Tap Payments, a payment gateway that helps businesses accept online digital payments founded in Kuwait but headquartered in Saudi Arabia;
• HyperPay, an online payment service provider offering a payment processing services for businesses selling online and offline; and
• PayTabs, a payment infrastructure supporting B2B payment solutions, including digital invoicing for businesses, QR code, social media payments, POS and switching platforms.

These 11 companies collectively hold a valuation of US$13.79 billion. This represents 78.4% of the total valuation of MENA’s 20 most valuable fintech companies, according to the research, further emphasizing the significant influence of Saudi Arabia in the region’s fintech landscape.

Egypt, following Saudi Arabia, is the second-most represented jurisdiction, with six ventures among the 20. These companies are Fawry, a digital payment and electronic-banking network; MNT-Halan, a digital ecosystem offering micro, consumer, and nano-finance, e-commerce, and payment solutions; Valu, a BNPL and lifestyle platform; Paymob, a digital payment solutions provider; Thndr, a mobile-first investment and trading platform; and Money Fellows, a finance and savings app.

Other jurisdictions represented in the ranking include the UAE, with five ventures, and Kuwait, with three ventures.

Fintech in MENA

Over the past years, fintech has emerged as the fastest-growing and most favored startup category in MENA among investors. According to Magnitt, a data platform for venture capital (VC) and startups in the region, fintech funding reached a staggering US$1.14 billion in 2025 through 178 transactions.

The sector accounted for the lion’s share of MENA funding, comprising 30% of all startup funding and 26% of deals. This made it the most active sector in the region, both in terms of the volume of deals and the amount of funding deployed.

The momentum of fintech continued into 2026, with Saudi Arabia leading the way. In the first half of the year, fintech accounted for 67% of all startup funding in the country.

Just this month, several fintech startups in MENA secured notable rounds of funding. Naran, a mobility fintech headquartered in the UAE, raised US$10 million in equity and debt financing to expand its fleet and enter new markets. Founded in 2025, Naran provides rent-to-own financing for cars and motorcycles to ride-hailing and delivery drivers. It operates in Colombia, Peru, Senegal and Cote d’Ivoire and plans to enter Paraguay in September.

In the UAE, tax software company Tax Star raised US$1.75 million in seed funding to expand across the Gulf Cooperation Council (GCC) and into Europe, targeting markets undergoing shifts towards digital tax and invoicing systems.

Tax Star bills itself as the UAE’s first AI-powered corporate tax compliance software, using automation to help businesses meet local tax rules. The company is a pre-approved Accredited Service Provider (ASP) in the UAE for the country’s e-invoicing rollout.

In Bahrain, insurtech startup Soor secured an undisclosed pre-seed investment to develop its platform, expand partnerships with insurance providers and improve the customer experience while strengthening its presence in Bahrain. It is also exploring expansion into other regional markets.

Founded in 2024, Soor operates a digital platform that allows users to compare and purchase policies from multiple insurers through a single application. The startup is licensed by the Central Bank of Bahrain and seeks to provide greater transparency around available policies, pricing and coverage options.

Featured image: Edited by Fintech News Middle East, based on image by roypankaj via Magnific