Saudi fintech firms reach 261 by 2024-end: FSDP

14/07/2025 Argaam
Logo ofFinancial Sector Development Program (FSDP)

Logo of Financial Sector Development Program (FSDP)

The Financial Sector Development Program’s (FSDP) 2024 annual report revealed that the number of fintech companies operating in Saudi Arabia exceeded the program’s targets, reaching 261 active firms by the end of 2024.

 

The report said that the number was nearing the Vision 2030 target of 525 fintech companies.

 

Out of the total, 138 fintech firms were licensed by the Saudi Central Bank (SAMA), 52 by the Capital Market Authority (CMA), and 14 by the Insurance Authority (IA).

 

The fintech strategy has successfully generated over 11,000 direct jobs in the sector, including more than 8,500 positions within companies regulated by SAMA.

 

Cumulative venture capital investment in the fintech sector exceeded SAR 7.6 billion.

 

The chart below illustrates the growth in the number of fintech companies since 2020:

 

Growth of Fintech Companies

2020

14

2021

17

2022

147

2023

216

2024

261
 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.