Saudi Arabia Fintech Market To Grow From $1.9 Billion To $4.5 Billion By 2033 CAGR Of 10.27%

Market Size in 2024: USD 1.9 Billion

Market Size in 2033: USD 4.5 Billion

Market Growth Rate 2025-2033: 10.27%

According to IMARC Group's latest research publication, “Saudi Arabia Fintech Market Size, Share, Trends and Forecast by Service Proposition, and Region, 2025-2033” , The Saudi Arabia fintech market size was valued at USD 1.9 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 4.5 Billion by 2033, exhibiting a CAGR of 10.27% from 2025-2033.

Our report includes:

• Market Dynamics
• Market Trends and Market Outlook
• Competitive Analysis
• Industry Segmentation
• Strategic Recommendations

Download a sample PDF of this report: https://www.imarcgroup.com/saudi-arabia-fintech-market/requestsample

Saudi Arabia Fintech Market Trends & Drivers:

The push for a cashless economy, backed by Vision 2030, is turbocharging Saudi Arabia's fintech market. The Saudi Central Bank (SAMA) aims for 70% non-cash transactions, and digital wallets like stc pay and urpay now serve 17 million users-over half the population. In December, SAMA launched Samsung Pay via the mada network, making payments smoother and more inclusive. With 94% contactless payment adoption, fintechs like PayTabs, handling SAR200 billion in transactions, are thriving. This shift to digital payments is making financial services faster and more accessible for everyone.

Islamic fintech is booming as demand for Sharia-compliant services grows. Platforms like Lendo and Sulfah offer halal lending and investments, aligning with cultural values. In October, Gulf Islamic Investments raised $100 million to expand private equity, showing strong investor interest. FintechSaudi's support for startups ensures these solutions reach small businesses and individuals. With 96% of the fintech market dominated by money transfers and payments, Islamic fintech apps are gaining traction for their ethical approach. This trend is drawing global attention, positioning Saudi Arabia as a hub for faith-based financial innovation.

The rise of“buy now, pay later” (BNPL) services is shaking up Saudi Arabia's fintech scene. Companies like Tamara and Tabby, both unicorn startups, serve over 10 million customers, with 45% aged 20-30. SAMA's Open Banking Framework, launched to boost data sharing, helps BNPL platforms offer personalized financing. With 30,000 merchants adopting BNPL, it's a hit for online and in-store shopping. FintechSaudi's workshops for SMEs further fuel this growth by teaching businesses to integrate these flexible payment options, making shopping easier and driving fintech adoption.

How AI is Reshaping the Future of Saudi Arabia Fintech Market

Artificial intelligence (AI) is shaking up Saudi Arabia's fintech market by making financial services smarter and more accessible. With 81% of CEOs adopting generative AI, per PwC, banks like Saudi National Bank use AI chatbots for 24/7 customer support and fraud detection systems that analyze transactions in real-time. SAMA's regulatory sandbox fosters AI innovation, letting startups like Tamara test cutting-edge solutions. AI's streamlining loan approvals and personalizing investments, with over 200 fintechs employing 5,000+ Saudis. This tech wave, backed by Vision 2030, is turning the Kingdom into a global fintech powerhouse.

Saudi Arabia Fintech Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Service Proposition:

• Money Transfer and Payments
• Savings and Investments
• Digital Lending and Lending Marketplaces
• Online Insurance and Insurance Marketplaces
• Others

Breakup by Region:

• Eastern Region
• Central Region
• Western Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Fintech Market

• July 2025: The Fintech Revolution Summit gathered innovators and leaders in Jeddah, spotlighting Saudi Arabia's rise as the Middle East's fintech hub. Announcements included record investment flows, major global companies entering the Kingdom, and new product launches centered on mobile payments, blockchain integration, and streamlined cross-border transfers. This underscores Saudi Arabia's proactive policy to attract international talent and set regional standards for digital finance.
• May 2025: The Saudi Central Bank expanded its Regulatory Sandbox to allow both local and international startups to pilot disruptive technologies. This live environment fast-tracks innovations, covering everything from digital wallets to AI-powered credit scoring. The move reflects the Kingdom's Vision 2030 goals, offering faster regulatory approvals and encouraging foreign direct investment in emerging fintech solutions.
• April 2025: Local startups like Nqoodlet are raising millions in seed capital, signaling growing investor confidence. Saudi fintech firm Nqoodlet secured $3 million, joining a surge of homegrown platforms addressing finance aggregation and digital lending. The Saudi Central Bank also granted new licenses for finance aggregators, proof of a thriving, increasingly competitive fintech ecosystem with fresh solutions for both consumers and businesses.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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