This article showcases our top picks for the best Saudi Arabia based Fintech (Financial Technology) companies. These startups and companies are taking a variety of approaches to innovating the Fintech (Financial Technology) industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Saudi Arabia Fintech (Financial Technology) Companies
Tamara is a fintech startup that offers a buy now, pay later platform that enables customers to pay on an installment basis, helping merchants to grow their sales. It specializes in the fields of financial services, fintech, and mobile apps.
In 2020, Abdulmajeed Alsukhan, Turki Bin Zarah, and Abdulmohsen Albabtain co-established the company in Riyadh, Ar Riyad, Saudi Arabia.. .
Lean is a Saudi B2B company that builds developer-friendly APIs, which provide Fintechs with access to customer Financial data and payment initiation capabilities. Lean achieves this by partnering with Financial Institutions to provide them with a state-of-the-art API integration layer to complement their existing infrastructure, thus ensuring full transparency, oversight, and control over the data being shared by their customers.
Fintechs can therefore, integrate with a multitude of Financial Institutions through a single platform – the Lean Universal API. The company was founded in 2019 and is based in Riyadh, Ar Riyad, Saudi Arabia..
MANAFA is an online marketplace for investing equity into innovative, early-stage companies. It provides sophisticated investors free access to direct investment opportunities, diligence tools and industry data insights for an asset class that was previously very difficult to access.
For entrepreneurs, MANAFA offers an efficient way to access a network of sophisticated investors as well as leading partners.. .
Lendo is a fintech company that offers a peer-to-peer lending platform with core focus towards SMEs’ debt finance. Its platform provides a variety of financing products for SMEs with an initial focus on pre-invoicing finance.
The company was founded in 2019 and is based in Saudi Arabia.. .
Licensed by Saudi Arabia Monetary Authority, Forus is a lending marketplace that enables investors to invest in a marketplace of alternative loans targeted towards small and medium enterprises. Driven by Artificial Intelligence, our marketplace is providing investors with diversified alternative options to investing, while businesses are empowered with an opportunity to grow and scale.
We achieve this by minimizing friction, streamlining the customer experience, and providing a seamless, secure, and transparent platform.. .
National Commercial Bank
National Commercial Bank offers solutions specifically designed for personal and business needs. The National Commercial Bank (NCB) is a prominent Saudi Arabian bank and the leading financial institution in the region.
The bank is considered the largest and the first to officially be licensed and operate in Saudi Arabia, following the Royal Decree of the 26th of December 1953, corresponding to 20th of Rabi Al-Thani 1373H. NCB was formed as a result of partnership and merger of Saudi Arabia’s largest currency exchange houses at the time; Mr.
Saleh and Abdulaziz Kaki, and the Mr. Salem bin Mahfouz Company.
In 1979, NCB became the first Saudi bank to launch a mutual fund product. The bank has, since then, led numerous Shariah-Compliant financial services whilst continued being a pioneer in financial innovations such as real estate and auto-lease finance.
In addition, NCB asserted its leadership by being the first bank to introduce Credit Cards, the first to operate an ATM (Automated-Teller-Machine), the first to introduce students savings schemes, and the first to dedicate branches for ladies. NCB was became a joint stock company in 1997.
And by 1999, the Saudi government, represented by the Public Investment Fund (PIF), acquired the majority of shares. The remainder shares were distributed amongst; General Organization for Social Insurance (GOSI), and a number of Saudi investors.
ELITE was first launched in 2012. Being part of the London Stock Exchange Group, their history traces back 300 years.
ELITE can benefit from the access to their global network and international pool of capital, alongside nurturing its vocation of being a young and dynamic fintech company.. .
CURA started as a launch-pad for technology businesses that relate and complement each other. We build and scale a diversified portfolio of sector-focused technology and internet customer-centric businesses.
The unique dynamic experience of each sector or business model requires a different innovative approach delivering an unparalleled user-experience. What we do is apply world-class standards and over-deliver with a unique customer experience that develops an extremely rare relationship between a company and a customer..
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