Saudi Arabia

Five FS Launches in the UAE and Saudi Arabia After Closing US$3.5M Seed Round

Dubai-based financial services platform Five FS has launched in the UAE and Saudi Arabia, and raised US$3.5 million in seed funding led by Romanian vc firm Zeyshare Ventures at a US$30 million valuation. Five FS helps users get better offers

Read More

6 Middle East Fintech Startups on CB Insights’ Fintech 250 Most Promising List

Six fintech startups from the Middle East made this year’s Fintech 250, CB Insights’ annual list of the 250 most promising private fintech companies in the world. The 250 winners were selected from a pool of over 12,500 eligible private

Read More

Saudi Central Bank Adds 4 Open Banking Startups to Its Regulatory Sandbox

The Saudi Central Bank (SAMA) has added four open banking startups to its regulatory sandbox, bringing the number of companies currently operating under the sandbox to 27. 42 companies have been granted permits to operate under the regulatory sandbox to

Read More

Saudi’s Mobile Point of Sale Startup NearPay Raises US$3.6M Pre-Series A

Saudi-based point of sale startup NearPay has closed a US$3.6 million pre-series A funding round led by Vision Ventures, with participation from Hala Ventures, Arzan VC, Palm Ventures, and angel investors. Founded in 2020, NearPay provides a solution that allows merchants

Read More

Here Are the Top 5 Fintech Startups in the Middle East on LinkedIn in 2022

Five fintech companies made LinkedIn’s second annual top startups list featuring 10 companies in the UAE that it says is gaining attention. The ranking was produced using LinkedIn data in four areas: employee growth, jobseeker interest, employee engagement, and their

Read More

Saudi Central Bank Grants Payment Licenses to Arab Sea Financial Company and Fatoraah

The Saudi Central Bank (SAMA) has granted e-commerce payment licenses to Arab Sea Financial Company and Fatoraah, bringing the total number of payment companies licensed by the central bank to 21 companies. This comes in addition to five payment companies

Read More

Saudi Central Bank Updates Its Regulatory Sandbox Framework to Drive Innovation

The Saudi Central Bank (SAMA) announced that it has updated its Regulatory Sandbox framework as part of its efforts to achieve national strategic goals in the Financial Sector Development Programme (FSDP), a key objective of the Saudi Vision 2030. The

Read More

Saudi Central Bank Permits 2 New Fintech Startups to Operate Under Its Regulatory Sandbox

The Saudi Central Bank (SAMA) announced granting permit to a new batch of companies; “Lean Technologies” and “Mod5r” to provide Open Banking Solutions; bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38. This step

Read More

Saudi Fintech Tamara Secures Record $100M Series B Round

Saudi fintech startup Tamara, a leading payments startup focused on driving financial inclusion across the Middle East, has raised a $100m Series B equity round led by Sanabil Investments, with participation from Coatue, Shorooq Partners, Endeavor Catalyst and a follow-on

Read More

Thunes Enters Saudi Arabia and Appoints Country Head

Thunes, a global cross-border payments company, today announced that it is accelerating the expansion of its services in the Middle East and North Africa (MENA) region, setting up an office in the Kingdom of Saudi Arabia, and appointing a new

Read More