Saudi Arabia

Fintech & Ecommerce

Saudi Fintech Rasan Jumps by 30%

Saudi fintech company Rasan Information Technology Co. has moved forward in its debut in Riyadh, managing to raise 841 million riyals ($224 million) amid the hype associated with the listing, as a result of which several companies have started trading in the kingdom over the past month.

News

IBM Makes More Open-Source AI Models

International Business Machines (IBM) on Tuesday, May 21, announced its intention to release a new family of artificial intelligence models in the form of open-source software.

News

MENAP-Based Fintech ABHI Expands to Saudi Arabia

An emerging fintech operator, ABHI, with established operations in Pakistan and UAE, has expanded its business to the Kingdom of Saudi Arabia through a partnership with Alraedah Digital Solutions.

News

Ant International to Expand to Saudi Arabia

The partnership with the Ministry of Investment of Saudi Arabia enables Ant International to expand its e-commerce and digital payment services across the Middle East.

Fintech & Ecommerce

Saudi Fintech Company Rasan to Sell 30% Stake in Riyadh IPO

Fintech company Rasan, which is based in Saudi Arabia, intends to sell 30% of its stake during the initial public offering (IPO) of shares in Riyadh.

Fintech & Ecommerce

Saudi Arabian Startups to Watch in 2024

As we progress into the digital age, the startup ecosystem in Saudi Arabia is undergoing a swift and remarkable transformation. The year 2024 stands out as a particularly noteworthy period in this evolving landscape due to the emergence of an array of innovative companies that span a variety of sectors.

Events

Saudi Fintech Revolution Summit – SAUDI’s DIGITAL FINANCE FRONTIER: FINTECH UNLEASHED

We TraiCon Events will be hosting Saudi Arabia’s premier fintech event titled as “Fintech Revolution Summit” scheduled on 29th & 30th April 2024 at Riyadh, Saudi Arabia – A Leading Financial Hub of MENA.

Finance & Economics

Alibaba Seeks Middle East Partners

Chinese e-commerce giant Alibaba Group Holding Ltd. is currently seeking to establish partnerships with companies from the United Arab Emirates and Saudi Arabia.

Finance & Economics

MSA Capital to Raise $1 Billion for Mideast Startups

The Chinese venture capital company MSA Capital, supported by the unit of the Saudi Arabian Public Investment Fund, intends to raise $1 billion in financing to support technology startups in the Middle East.

Fintech & Ecommerce

Deloitte and Fintech Saudi to Launch Makken Program

Deloitte, a global professional services company, is currently implementing a partnership with Fintech Saudi.

News

Crypto Grows in Africa and MENA as Shield Against Inflation

Bitcoin remains the most dominant cryptocurrency in Sub-Saharan Africa, while rising inflation makes Turkey the fourth country worldwide in raw crypto transaction volume rating.

Finance & Economics

Riyad Bank Integrates E-Invoicing ZATCA Enabled by SunTec Xelerate

Riyad Bank, one of the largest financial institutions in Saudi Arabia, integrated the Zakat, Tax and Customs Authority (ZATCA) solution for e-invoicing, deployed on SunTec Xelerate platform

Fintech & Ecommerce

Hala Acquires Paymennt.com

Saudi fintech company Hala announced the purchase of a payment startup from the UAE Paymennt.com.

News

RegTech Konsentus Launches in Saudi Arabia

Open Ecosystem RegTech provider, Konsentus, launches in its first MENA regional market – Saudi Arabia – to offer open data infrastructure and technology services to regulators and FS providers

News

Saudi Arabia Central Bank Launches CBDC Experiment

Saudi Central Bank continues CBDC experimentations, currently focusing on domestic wholesale of CBDC in collaboration with local banks and fintechs.

Finance & Economics

Are Startups Going Out of Fashion?

Tech startups across the globe are now facing a massive drain of funding from the segment. The total number of startups has also significantly declined. Why does it happen, and what to expect next?