Saudi 2019 fintech sector outlook positive, says KPMG

13/03/2019 Argaam

The 2019 outlook for financial technology (fintech) investment in Saudi Arabia remains positive, driven by a tech-savvy young population, according to KPMG Al Fozan & Partners.

“We expect growing investor interest in the fintech offerings over time which will transform the Kingdom as the Middle East and North Africa's (MENA) primary market," said Islam Al Bayaa, Head of Advisory at KPMG Al Fozan & Partners.

Saudi Arabian Monetary Authority's (SAMA) “FintechSaudi” and the recent decision to set up “Sandbox” regulatory environment will have a positive impact on fintech investment and enable foreign and regional investors to invest in these companies, he added.

Meanwhile, KPMG said that global fintech funding totaled $112 billion last year, up 120 percent from $50.8 billion in 2017, fueled by mega M&A and buyout deals.

Deals in the second half of 2018 were topped by Blackstone’s $17 billion investment in Refinitiv, the $3.5 billion acquisition of Blackhawk Network by Silver Lake and P2 Capital Partners, the $3.4 billion buyout of VeriFone by Francisco Partners, and the $2.2 billion acquisition of iZettle by PayPal, the report added.


News

Prices

Aramco IPONew

Sectors

Companies

Financial Data

Financial Ratios

Analysts

IPOs

Economy

Mutual Funds

Projects

Interactive Charts