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.
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.
Chinese e-commerce giant Alibaba Group Holding Ltd. is currently seeking to establish partnerships with companies from the United Arab Emirates and Saudi Arabia.
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.
Deloitte, a global professional services company, is currently implementing a partnership with Fintech Saudi.
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.
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
Saudi fintech company Hala announced the purchase of a payment startup from the UAE Paymennt.com.
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
Saudi Central Bank continues CBDC experimentations, currently focusing on domestic wholesale of CBDC in collaboration with local banks and fintechs.
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?
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